Trek Financial LLC Increases Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Trek Financial LLC increased its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 990.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 34,504 shares of the medical equipment provider's stock after buying an additional 31,339 shares during the quarter. Trek Financial LLC's holdings in Boston Scientific were worth $3,481,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Colonial Trust Co SC grew its stake in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Boston Scientific during the fourth quarter valued at $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the fourth quarter valued at about $26,000. Ameriflex Group Inc. bought a new position in Boston Scientific in the fourth quarter valued at about $31,000. Finally, Fairway Wealth LLC bought a new stake in Boston Scientific during the fourth quarter valued at about $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president directly owned 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock valued at $47,755,193 over the last three months. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BSX shares. Citigroup restated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Evercore ISI raised their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Morgan Stanley lifted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $116.09.

Boston Scientific Stock Performance

BSX stock traded down $1.39 during trading hours on Tuesday, hitting $102.44. 7,750,791 shares of the stock were exchanged, compared to its average volume of 6,667,485. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The company has a 50-day simple moving average of $103.45 and a two-hundred day simple moving average of $100.32. The firm has a market capitalization of $151.55 billion, a P/E ratio of 74.77, a P/E/G ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the firm posted $0.56 earnings per share. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. On average, analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.