GAM Holding AG Has $2.80 Million Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

GAM Holding AG raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 32.1% in the 1st quarter, HoldingsChannel reports. The firm owned 27,776 shares of the medical equipment provider’s stock after buying an additional 6,747 shares during the period. GAM Holding AG’s holdings in Boston Scientific were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Parnassus Investments LLC boosted its holdings in shares of Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after buying an additional 97 shares during the period. Baldwin Investment Management LLC boosted its holdings in shares of Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after buying an additional 102 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the period. PDS Planning Inc boosted its holdings in shares of Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 113 shares during the period. Finally, Paladin Wealth LLC boosted its holdings in shares of Boston Scientific by 1.6% during the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock worth $722,000 after buying an additional 113 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $101.35 on Friday. The stock’s 50-day simple moving average is $101.77 and its 200 day simple moving average is $99.06. The firm has a market capitalization of $149.95 billion, a PE ratio of 73.98, a price-to-earnings-growth 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 Corporation has a twelve month low of $71.88 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. Boston Scientific’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the topic of several recent research reports. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Robert W. Baird increased their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Royal Bank Of Canada increased their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Citigroup reiterated a “buy” rating and set a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Finally, Truist Financial increased their price objective on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $116.09.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction dated Wednesday, June 4th. The shares were 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. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

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.