Wolf Group Capital Advisors Takes $2.14 Million Position in Boston Scientific Corporation (NYSE:BSX)

Wolf Group Capital Advisors bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,255 shares of the medical equipment provider’s stock, valued at approximately $2,144,000.

Other large investors also recently modified their holdings of the company. Bank Pictet & Cie Europe AG raised its holdings in Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after buying an additional 21,173 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Boston Scientific by 8.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider’s stock valued at $4,223,000 after buying an additional 3,683 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Boston Scientific by 13.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider’s stock worth $16,507,000 after acquiring an additional 22,504 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of Boston Scientific by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 242,485 shares of the medical equipment provider’s stock worth $21,659,000 after acquiring an additional 10,181 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Boston Scientific by 1.9% in the 4th quarter. Van ECK Associates Corp now owns 58,984 shares of the medical equipment provider’s stock worth $5,268,000 after acquiring an additional 1,090 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction 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 transaction, the executive vice president now directly owns 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the sale, the executive vice president now directly owns 178,342 shares in the company, valued at $18,347,824.96. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BSX. Truist Financial lifted their price target on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Leerink Partners initiated coverage on Boston Scientific in a report on Monday. They issued an “outperform” rating and a $118.00 target price on the stock. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Morgan Stanley increased their price target on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Finally, Evercore ISI raised their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $116.09.

Boston Scientific Stock Up 0.2%

BSX opened at $101.72 on Wednesday. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.17. The company’s 50-day moving average price is $101.35 and its two-hundred day moving average price is $98.89. The stock has a market cap of $150.49 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.62 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. As a group, equities analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current 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.