Hobart Private Capital LLC Invests $234,000 in Boston Scientific Co. (NYSE:BSX)

Hobart Private Capital LLC bought a new position in Boston Scientific Co. (NYSE:BSX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,316 shares of the medical equipment provider’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Neville Rodie & Shaw Inc. acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $2,341,000. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Boston Scientific by 17.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 6,325 shares of the medical equipment provider’s stock valued at $638,000 after buying an additional 940 shares during the period. PKO Investment Management Joint Stock Co acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $893,000. Siemens Fonds Invest GmbH boosted its holdings in shares of Boston Scientific by 2.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 48,958 shares of the medical equipment provider’s stock valued at $4,391,000 after buying an additional 1,153 shares during the period. Finally, Park Square Financial Group LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $175,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Down 1.6%

BSX stock opened at $104.52 on Thursday. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a market capitalization of $154.63 billion, a price-to-earnings ratio of 83.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm’s 50-day moving average is $100.22 and its two-hundred day moving average is $97.66. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm earned $0.56 EPS. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. On average, analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the business’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 value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,155 shares of company stock worth $19,556,047. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. Citigroup reaffirmed a “buy” rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Barclays boosted their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Raymond James boosted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Stifel Nicolaus boosted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Twenty-two investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus price target of $114.87.

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.