Bogart Wealth LLC Buys 62,819 Shares of Boston Scientific Corporation (NYSE:BSX)

Bogart Wealth LLC lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 61,587.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 62,921 shares of the medical equipment provider’s stock after purchasing an additional 62,819 shares during the period. Bogart Wealth LLC’s holdings in Boston Scientific were worth $6,347,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Boston Scientific by 1.2% in the fourth 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 during the period. Wellington Management Group LLP lifted its holdings in Boston Scientific by 10.2% during 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 purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC lifted its holdings in 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 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Boston Scientific by 2.5% during the fourth 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 purchasing an additional 554,388 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

NYSE:BSX opened at $103.16 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The firm has a market cap of $152.62 billion, a price-to-earnings ratio of 75.30, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. The company has a 50 day moving average price of $103.42 and a 200-day moving average price of $100.66. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.53.

Boston Scientific (NYSE:BSX) last issued 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 company had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. Equities research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSX. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Evercore ISI increased their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Truist Financial increased their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Needham & Company LLC restated a “buy” rating and issued a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $116.09.

Insider Activity

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president owned 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 461,970 shares of company stock worth $47,755,193. Insiders own 0.50% of the company’s stock.

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.