Synergy Asset Management LLC Takes Position in Boston Scientific Corporation (NYSE:BSX)

Synergy Asset Management LLC bought a new stake in Boston Scientific Corporation (NYSE:BSX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,929 shares of the medical equipment provider’s stock, valued at approximately $1,203,000.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP boosted its stake in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the period. Geode Capital Management LLC lifted its position in shares of Boston Scientific by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares during the period. Capital World Investors lifted its position in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock valued at $1,992,994,000 after acquiring an additional 554,388 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.0%

Shares of NYSE:BSX opened at $101.35 on Friday. The firm has a market cap of $149.94 billion, a P/E ratio of 73.98, a P/E/G 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 12-month low of $71.88 and a 12-month high of $107.17. The business has a fifty day simple moving average of $101.77 and a 200 day simple moving average of $99.11.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the business earned $0.56 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. Analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm’s stock in a transaction on 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 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 SEC, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the firm’s 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 completion of the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BSX. Citigroup reaffirmed 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. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. BTIG Research restated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Robert W. Baird upped their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley upped their target price 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-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $116.09.

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.