Boston Scientific Corporation (NYSE:BSX) Shares Bought by Spirepoint Private Client LLC

Spirepoint Private Client LLC raised its position in Boston Scientific Corporation (NYSE:BSX) by 9.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 79,621 shares of the medical equipment provider’s stock after buying an additional 6,596 shares during the period. Boston Scientific comprises about 1.0% of Spirepoint Private Client LLC’s portfolio, making the stock its 29th largest holding. Spirepoint Private Client LLC’s holdings in Boston Scientific were worth $8,032,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG boosted its holdings in Boston Scientific by 40.8% in the 4th 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. Illinois Municipal Retirement Fund lifted its stake in Boston Scientific by 13.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider’s stock worth $16,507,000 after purchasing an additional 22,504 shares in the last quarter. Blue Trust Inc. lifted its stake in Boston Scientific by 13.0% in the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock worth $504,000 after purchasing an additional 575 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Boston Scientific by 109.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider’s stock worth $24,126,000 after purchasing an additional 141,398 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Boston Scientific by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock worth $1,477,307,000 after purchasing an additional 832,386 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE:BSX opened at $102.38 on Tuesday. The company has a fifty day simple moving average of $101.94 and a two-hundred day simple moving average of $99.26. The company has a market cap of $151.47 billion, a price-to-earnings ratio of 74.73, 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 52 week low of $71.88 and a 52 week high of $107.17.

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

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Barclays raised their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Robert W. Baird raised their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Finally, Leerink Partnrs raised shares of Boston Scientific to a “strong-buy” rating in a research report on Monday, June 16th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and an average target price of $116.09.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business’s 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 transaction, the executive vice president now owns 178,342 shares of the company’s stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. 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 90 days. Corporate insiders own 0.50% of the company’s stock.

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.