Catalyst Financial Partners LLC Increases Holdings in Boston Scientific Corporation (NYSE:BSX)

Catalyst Financial Partners LLC lifted its position in shares of Boston Scientific Corporation (NYSE:BSX) by 13.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,069 shares of the medical equipment provider’s stock after acquiring an additional 942 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Boston Scientific were worth $814,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Signaturefd LLC boosted its stake in shares of Boston Scientific by 10.9% during the 1st quarter. Signaturefd LLC now owns 32,421 shares of the medical equipment provider’s stock worth $3,271,000 after acquiring an additional 3,184 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Boston Scientific by 13.2% during the 1st quarter. Bleakley Financial Group LLC now owns 59,279 shares of the medical equipment provider’s stock worth $5,980,000 after purchasing an additional 6,901 shares during the last quarter. MQS Management LLC acquired a new position in shares of Boston Scientific during the 1st quarter worth approximately $452,000. Prudent Man Advisors LLC raised its position in shares of Boston Scientific by 5.1% during the 1st quarter. Prudent Man Advisors LLC now owns 10,927 shares of the medical equipment provider’s stock worth $1,102,000 after purchasing an additional 531 shares during the last quarter. Finally, LRI Investments LLC raised its position in shares of Boston Scientific by 9.4% during the 1st quarter. LRI Investments LLC now owns 6,403 shares of the medical equipment provider’s stock worth $646,000 after purchasing an additional 551 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BSX shares. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Leerink Partnrs upgraded Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Royal Bank Of Canada boosted their price target on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Robert W. Baird upped their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Evercore ISI upped their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and an average target price of $116.09.

Boston Scientific Stock 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. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.53. The firm has a 50-day moving average of $103.42 and a two-hundred day moving average of $100.66. The stock has a market cap of $152.62 billion, a P/E ratio of 75.30, a PEG ratio of 2.68 and a beta of 0.68.

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. 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 analysts’ expectations of $4.57 billion. During the same quarter last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total value of $5,348,500.00. Following the sale, the executive vice president directly owned 178,342 shares in the company, valued at approximately $19,077,243.74. This trade represents a 21.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock valued at $47,755,193 over the last three months. 0.50% of the stock is currently owned by company insiders.

Boston Scientific 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.