USA Financial Formulas Has $1.81 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

USA Financial Formulas increased its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 23.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,937 shares of the medical equipment provider's stock after purchasing an additional 3,401 shares during the period. Boston Scientific makes up 0.3% of USA Financial Formulas' holdings, making the stock its 20th largest position. USA Financial Formulas' holdings in Boston Scientific were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its position in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after buying an additional 210 shares in the last quarter. Colonial Trust Co SC lifted its position in Boston Scientific by 1,625.0% during 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 bought a new stake in Boston Scientific during the 4th quarter worth about $25,000. Sunbeam Capital Management LLC bought a new stake in Boston Scientific during the 4th quarter worth about $26,000. Finally, Ameriflex Group Inc. bought a new stake in Boston Scientific during the 4th quarter worth about $31,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on BSX shares. Truist Financial boosted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Robert W. Baird boosted their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Citigroup reissued a "buy" rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Barclays upped their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Twenty-one investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and an average price target of $116.00.

Insiders Place Their Bets

In other Boston Scientific news, 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 transaction of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 in the last 90 days. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $1.04 during trading hours on Friday, reaching $99.60. 10,330,779 shares of the stock were exchanged, compared to its average volume of 6,574,434. The firm has a market capitalization of $147.35 billion, a price-to-earnings ratio of 79.68, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The stock's fifty day simple moving average is $101.03 and its 200 day simple moving average is $98.74.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 earnings per share. Sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current 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.