Boston Scientific Co. (NYSE:BSX) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 70.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 389,893 shares of the medical equipment provider’s stock after buying an additional 161,198 shares during the quarter. SG Americas Securities LLC’s holdings in Boston Scientific were worth $39,332,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. TFC Financial Management Inc. increased its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth $26,000. Finally, Ameriflex Group Inc. purchased a new position in Boston Scientific during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 2.0%

Shares of BSX opened at $100.05 on Tuesday. The company has a market capitalization of $148.02 billion, a PE ratio of 80.04, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The stock has a fifty day moving average of $100.49 and a two-hundred day moving average of $98.54. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

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

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 that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock valued at $42,406,693 in the last quarter. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BSX. Barclays boosted their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Citigroup reaffirmed a “buy” rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. BTIG Research reaffirmed a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $116.00.

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.