Centerpoint Advisory Group Takes $217,000 Position in Boston Scientific Corporation (NYSE:BSX)

Centerpoint Advisory Group purchased a new position in Boston Scientific Corporation (NYSE:BSX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,151 shares of the medical equipment provider’s stock, valued at approximately $217,000.

A number of other institutional investors have also added to or reduced their stakes in BSX. Vanguard Group Inc. increased its stake in shares of 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 worth $11,869,805,000 after acquiring an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP grew its holdings in 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 worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Geode Capital Management LLC increased its stake in shares of Boston Scientific by 3.5% during the fourth 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 purchasing an additional 1,041,329 shares in the last quarter. Capital World Investors lifted its holdings in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of Boston Scientific by 2.5% in 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 worth $1,992,994,000 after purchasing an additional 554,388 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the company’s stock in a transaction on Thursday, May 1st. The shares were 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 owns 22,235 shares of the company’s stock, valued at $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Evercore ISI boosted their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Leerink Partnrs raised Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Finally, Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Buy” and a consensus price target of $116.09.

Boston Scientific Trading Down 0.0%

Boston Scientific stock opened at $101.35 on Monday. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.17. The firm has a market capitalization of $149.95 billion, a price-to-earnings ratio of 73.98, a P/E/G ratio of 2.62 and a beta of 0.68. The firm has a 50 day moving average of $101.77 and a 200 day moving average of $99.17. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

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, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share 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.