CRA Financial Services LLC Purchases 545 Shares of Boston Scientific Co. (NYSE:BSX)

CRA Financial Services LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 18.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,491 shares of the medical equipment provider’s stock after acquiring an additional 545 shares during the period. CRA Financial Services LLC’s holdings in Boston Scientific were worth $352,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares during the period. Investment Management Corp VA ADV purchased a new stake in Boston Scientific during the 4th quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific during the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. purchased a new stake in Boston Scientific during the 4th quarter valued at approximately $31,000. Finally, Fairway Wealth LLC purchased a new stake in Boston Scientific during the 4th quarter valued at approximately $36,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the sale, the executive vice president now directly owns 178,342 shares in the company, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction 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 sale, the executive vice president now owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% 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 worth $42,406,693 over the last three months. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSX. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Truist Financial increased their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Robert W. Baird increased their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Finally, BTIG Research reissued a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $116.00.

Boston Scientific Stock Up 1.1%

Shares of BSX opened at $99.60 on Friday. The company has a market cap of $147.35 billion, a PE ratio of 79.68, a P/E/G ratio of 2.79 and a beta of 0.68. The business has a fifty day moving average of $101.03 and a 200 day moving average of $98.74. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. 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 (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, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. On average, sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

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.