Boston Scientific Co. (NYSE:BSX) Stock Position Raised by Courier Capital LLC

Courier Capital LLC raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 36.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,527 shares of the medical equipment provider’s stock after purchasing an additional 8,143 shares during the period. Courier Capital LLC’s holdings in Boston Scientific were worth $3,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Outlook Wealth Advisors LLC raised its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Outlook Wealth Advisors LLC now owns 10,776 shares of the medical equipment provider’s stock valued at $1,087,000 after acquiring an additional 168 shares in the last quarter. Capital Investment Advisors LLC raised its stake in shares of Boston Scientific by 331.7% in the 1st quarter. Capital Investment Advisors LLC now owns 12,516 shares of the medical equipment provider’s stock valued at $1,263,000 after acquiring an additional 9,617 shares in the last quarter. Central Bank & Trust Co. bought a new position in shares of Boston Scientific in the 1st quarter valued at approximately $831,000. Park Avenue Securities LLC raised its stake in shares of Boston Scientific by 258.1% in the 1st quarter. Park Avenue Securities LLC now owns 46,082 shares of the medical equipment provider’s stock valued at $4,649,000 after acquiring an additional 33,213 shares in the last quarter. Finally, OLD National Bancorp IN bought a new position in shares of Boston Scientific in the 1st quarter valued at approximately $203,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the sale, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. This trade represents a 9.67% 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 valued at $42,406,693 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Royal Bank of Canada raised their target price on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Evercore ISI raised their target price on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Truist Financial raised their target price on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Barclays raised their target price on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $116.00.

Boston Scientific Trading Down 0.8%

Shares of BSX opened at $102.04 on Monday. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The business’s fifty day moving average is $100.49 and its 200-day moving average is $98.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market cap of $150.96 billion, a price-to-earnings ratio of 81.63, a PEG ratio of 2.79 and a beta of 0.68.

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

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.