World Equity Group Inc. Takes $343,000 Position in Boston Scientific Corporation (NYSE:BSX)

World Equity Group Inc. purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,396 shares of the medical equipment provider's stock, valued at approximately $343,000.

Several other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $1,762,522,000. Capital World Investors raised its position in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. GAMMA Investing LLC lifted its holdings in Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after acquiring an additional 2,556,078 shares during the period. Finally, Axiom Investors LLC DE boosted its position in shares of Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $101.35 on Friday. The company has a market cap of $149.94 billion, a P/E ratio of 73.98, a P/E/G ratio of 2.62 and a beta of 0.68. The business has a fifty day simple moving average of $101.77 and a 200-day simple moving average of $99.11. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

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

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the sale, the executive vice president now directly owns 178,342 shares in the company, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock valued at $42,406,693 over the last quarter. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada increased their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley increased their target price 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. Leerink Partners started coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 price target for the company. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Finally, Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $116.09.

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.

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