Prudent Man Advisors LLC Has $1.10 Million Holdings in Boston Scientific Corporation (NYSE:BSX)

Prudent Man Advisors LLC grew its stake in Boston Scientific Corporation (NYSE:BSX) by 5.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 10,927 shares of the medical equipment provider’s stock after buying an additional 531 shares during the quarter. Prudent Man Advisors LLC’s holdings in Boston Scientific were worth $1,102,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Colonial Trust Co SC boosted its holdings in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV acquired a new position in Boston Scientific during the fourth quarter worth $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth $26,000. Ameriflex Group Inc. acquired a new position in Boston Scientific during the fourth quarter worth $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in Boston Scientific during the fourth quarter worth $36,000. Institutional investors and hedge funds 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 firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock valued at $47,755,193 in the last quarter. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of several recent research reports. Truist Financial increased their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Barclays increased their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Morgan Stanley increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and an average price target of $116.09.

Boston Scientific Price Performance

Shares of BSX opened at $103.16 on Friday. The firm has a market capitalization of $152.62 billion, a PE ratio of 75.30, a PEG ratio of 2.68 and a beta of 0.68. The company’s 50-day moving average is $103.42 and its 200-day moving average is $100.60. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88.

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

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.