Checchi Capital Advisers LLC Boosts Stock Position in Boston Scientific Corporation (NYSE:BSX)

Checchi Capital Advisers LLC raised its stake in Boston Scientific Corporation (NYSE:BSX) by 1.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 11,729 shares of the medical equipment provider’s stock after buying an additional 123 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Boston Scientific were worth $1,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Parnassus Investments LLC grew its stake in Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares during the last quarter. Baldwin Investment Management LLC grew its stake in shares of Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after acquiring an additional 102 shares during the last quarter. Evergreen Capital Management LLC grew its stake in shares of Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after acquiring an additional 106 shares during the last quarter. PDS Planning Inc grew its stake in shares of Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after acquiring an additional 113 shares during the last quarter. Finally, Paladin Wealth LLC grew its stake in shares of Boston Scientific by 1.6% during the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock worth $722,000 after acquiring an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.6%

Shares of NYSE:BSX opened at $104.30 on Friday. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.53. The company has a market capitalization of $154.30 billion, a PE ratio of 76.13, a PEG ratio of 2.69 and a beta of 0.68. The business has a 50 day moving average of $103.37 and a two-hundred day moving average of $99.96. 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 announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. As a group, analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares of the company’s stock, valued at $1,955,420.70. This represents a 19.64% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president directly owned 36,193 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 461,970 shares of company stock worth $47,755,193. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Citigroup restated a “buy” rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Leerink Partnrs upgraded Boston Scientific to a “strong-buy” rating in a research note on Monday, June 16th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target 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.