Segall Bryant & Hamill LLC Buys New Shares in Boston Scientific Corporation (NYSE:BSX)

Segall Bryant & Hamill LLC bought a new stake in Boston Scientific Corporation (NYSE:BSX) during the 1st quarter, HoldingsChannel.com reports. The fund bought 81,620 shares of the medical equipment provider’s stock, valued at approximately $8,234,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific during the 4th quarter worth approximately $25,000. Colonial Trust Co SC increased its holdings in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific in the 4th quarter valued at approximately $26,000. Ameriflex Group Inc. acquired a new stake in Boston Scientific in the 4th quarter valued at approximately $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Boston Scientific in the 4th quarter valued at approximately $36,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on BSX. Barclays raised their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Royal Bank Of Canada lifted their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Citigroup reaffirmed a “buy” rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Evercore ISI lifted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Leerink Partners started coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 price objective for the company. Twenty-two equities 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.com, the company has a consensus rating of “Buy” and an average price target of $116.09.

Boston Scientific Stock Performance

NYSE:BSX opened at $104.62 on Friday. The business has a 50 day moving average of $103.40 and a 200 day moving average of $100.90. The company has a market capitalization of $154.78 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 2.68 and a beta of 0.68. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year 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 announced its 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. 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%. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 earnings per share. On average, sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total value of $5,348,500.00. Following the transaction, the executive vice president owned 178,342 shares of the company’s stock, valued at $19,077,243.74. This trade represents a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the sale, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is currently owned by corporate insiders.

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.