Robbins Farley Purchases Shares of 37,080 Boston Scientific Co. (NYSE:BSX)

Robbins Farley purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,080 shares of the medical equipment provider’s stock, valued at approximately $3,741,000. Boston Scientific accounts for approximately 2.0% of Robbins Farley’s investment portfolio, making the stock its 23rd biggest holding.

A number of other large investors have also made changes to their positions in the company. Southland Equity Partners LLC bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $220,000. Tritonpoint Wealth LLC grew its stake in shares of Boston Scientific by 9.3% during the 1st quarter. Tritonpoint Wealth LLC now owns 3,324 shares of the medical equipment provider’s stock valued at $335,000 after acquiring an additional 284 shares during the period. Azzad Asset Management Inc. ADV bought a new position in shares of Boston Scientific during the 1st quarter valued at approximately $2,267,000. CVA Family Office LLC grew its stake in shares of Boston Scientific by 10.2% during the 1st quarter. CVA Family Office LLC now owns 2,668 shares of the medical equipment provider’s stock valued at $269,000 after acquiring an additional 247 shares during the period. Finally, West Branch Capital LLC grew its stake in shares of Boston Scientific by 12,583.3% during the 1st quarter. West Branch Capital LLC now owns 761 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 755 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on BSX shares. Truist Financial boosted their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Robert W. Baird boosted their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley upped their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Twenty-one analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average price target of $116.00.

Boston Scientific Stock Performance

NYSE:BSX opened at $99.60 on Friday. The stock’s fifty day moving average is $101.03 and its 200 day moving average is $98.68. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The firm has a market capitalization of $147.35 billion, a PE ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68. 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 released its quarterly 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 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 in the prior year, the firm posted $0.56 EPS. Boston Scientific’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly 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. In the last 90 days, insiders have sold 411,970 shares of company stock worth $42,406,693. Company insiders own 0.50% of the company’s stock.

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.