Inspirion Wealth Advisors LLC Makes New $205,000 Investment in Boston Scientific Co. (NYSE:BSX)

Inspirion Wealth Advisors LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) during the first quarter, HoldingsChannel reports. The fund purchased 2,033 shares of the medical equipment provider’s stock, valued at approximately $205,000.

Several other hedge funds have also recently bought and sold shares of BSX. Gradient Investments LLC grew its holdings in Boston Scientific by 3.4% in the first quarter. Gradient Investments LLC now owns 224,375 shares of the medical equipment provider’s stock valued at $22,635,000 after purchasing an additional 7,476 shares during the last quarter. Strong Tower Advisory Services acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $421,000. NBC Securities Inc. grew its position in shares of Boston Scientific by 110,136.4% in the first quarter. NBC Securities Inc. now owns 12,126 shares of the medical equipment provider’s stock valued at $1,223,000 after purchasing an additional 12,115 shares during the last quarter. Worth Asset Management LLC purchased a new position in Boston Scientific during the first quarter worth $1,346,000. Finally, Talbot Financial LLC purchased a new stake in Boston Scientific during the 1st quarter worth about $204,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSX has been the topic of a number of analyst reports. Argus set a $130.00 target price on shares of Boston Scientific in a research report on Tuesday, February 18th. Citigroup reissued a “buy” rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Barclays lifted their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Stifel Nicolaus upped their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased 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-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $116.00.

Boston Scientific Trading Up 0.6%

Shares of BSX stock opened at $105.08 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The firm’s 50 day moving average price is $100.29 and its two-hundred day moving average price is $98.02. The stock has a market cap of $155.46 billion, a price-to-earnings ratio of 84.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

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

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the 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 sale, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,155 shares of company stock valued at $19,556,047 over the last three months. 0.50% of the stock is owned by company insiders.

About Boston Scientific

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.