Victory Capital Management Inc. Purchases 293,928 Shares of Boston Scientific Corporation (NYSE:BSX)

Victory Capital Management Inc. grew its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 57.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 805,696 shares of the medical equipment provider's stock after purchasing an additional 293,928 shares during the period. Victory Capital Management Inc. owned approximately 0.05% of Boston Scientific worth $81,279,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Colonial Trust Co SC grew its holdings 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 acquired a new position in Boston Scientific during the 4th quarter worth $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific in the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific in the fourth quarter worth $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Trading Down 0.9%

NYSE BSX traded down $0.97 on Friday, hitting $103.68. 8,571,099 shares of the stock were exchanged, compared to its average volume of 6,759,200. The company's 50-day moving average price is $103.40 and its two-hundred day moving average price is $100.90. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $107.53. The company has a market capitalization of $153.39 billion, a price-to-earnings ratio of 75.68, a P/E/G ratio of 2.72 and a beta of 0.68.

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

Insider Buying and Selling

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BSX shares. Barclays upped their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Robert W. Baird upped their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. BTIG Research reiterated a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Royal Bank Of Canada boosted their target price on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Morgan Stanley upped their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Twenty-two research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Company 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.