Cable Hill Partners LLC Acquires 232 Shares of Boston Scientific Corporation (NYSE:BSX)

Cable Hill Partners LLC grew its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,441 shares of the medical equipment provider’s stock after acquiring an additional 232 shares during the period. Cable Hill Partners LLC’s holdings in Boston Scientific were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of the company. HM Payson & Co. boosted its holdings in Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider’s stock worth $694,000 after buying an additional 98 shares during the period. Baldwin Investment Management LLC boosted its holdings in Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after buying an additional 102 shares during the period. Park Square Financial Group LLC boosted its holdings in Boston Scientific by 5.2% in the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider’s stock worth $208,000 after buying an additional 103 shares during the period. Evergreen Capital Management LLC boosted its holdings in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the period. Finally, PDS Planning Inc boosted its holdings in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 113 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.9%

Shares of NYSE:BSX opened at $103.43 on Wednesday. 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 Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The company has a 50-day moving average price of $103.41 and a 200 day moving average price of $100.78. The company has a market cap of $153.02 billion, a price-to-earnings ratio of 75.50, a PEG ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating 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 firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm earned $0.56 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the 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 sale, the executive vice president directly owned 178,342 shares of the company’s stock, valued at $18,347,824.96. This represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 461,970 shares of company stock worth $47,755,193 in the last quarter. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BSX. Truist Financial upped 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 raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Barclays upped their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Royal Bank Of Canada boosted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Robert W. Baird boosted their price target 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. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $116.09.

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.