Trillium Asset Management LLC Makes New $18.25 Million Investment in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Trillium Asset Management LLC has invested $18.25 million in Boston Scientific Corporation, acquiring 180,922 shares of the medical equipment provider's stock.
• Several institutional investors, including Capital World Investors and GAMMA Investing LLC, have significantly increased their holdings in Boston Scientific, indicating strong interest in the company.
• Analysts have issued numerous positive ratings for Boston Scientific, with an average target price of $117.50 and a general consensus rating of "Buy" based on its recent financial performance.

Trillium Asset Management LLC acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 180,922 shares of the medical equipment provider's stock, valued at approximately $18,251,000.

Several other large investors also recently modified their holdings of BSX. Brighton Jones LLC increased its position in shares of Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after buying an additional 226 shares during the period. Bank Pictet & Cie Europe AG increased its position in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the period. Highview Capital Management LLC DE grew its holdings in Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after purchasing an additional 1,439 shares during the period. Rockefeller Capital Management L.P. grew its holdings in Boston Scientific by 7.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 148,074 shares of the medical equipment provider's stock worth $13,191,000 after purchasing an additional 10,110 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new stake in Boston Scientific in the fourth quarter worth $909,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on BSX. 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. Robert W. Baird raised their price target on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a report on Monday, July 21st. Barclays raised their price target on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Finally, Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific has a consensus rating of "Buy" and an average price target of $117.50.

Insider Transactions at Boston Scientific

In other news, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value of $310,377.99. Following the completion of the transaction, the director owned 2,081 shares in the company, valued at $222,646.19. This trade represents a 58.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director directly owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. This represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

BSX stock traded down $1.00 during mid-day trading on Friday, hitting $103.15. The company had a trading volume of 5,342,171 shares, compared to its average volume of 6,961,994. The firm has a market cap of $152.84 billion, a PE ratio of 61.40, a price-to-earnings-growth ratio of 2.51 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. Boston Scientific Corporation has a 12 month low of $77.29 and a 12 month high of $108.94. The stock's fifty day moving average price is $103.56 and its two-hundred day moving average price is $102.10.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company's revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. 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.