Sheaff Brock Investment Advisors LLC Buys 266 Shares of Boston Scientific Corporation (NYSE:BSX)

Sheaff Brock Investment Advisors LLC grew its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 4.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,556 shares of the medical equipment provider’s stock after acquiring an additional 266 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Boston Scientific were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. HM Payson & Co. increased its position in shares of Boston Scientific by 1.4% during the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider’s stock valued at $694,000 after buying an additional 98 shares during the period. Baldwin Investment Management LLC increased its position in shares of Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after buying an additional 102 shares during the period. Park Square Financial Group LLC increased its position in shares of Boston Scientific by 5.2% in the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider’s stock worth $208,000 after purchasing an additional 103 shares during the last quarter. Evergreen Capital Management LLC increased its position in shares of Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after purchasing an additional 106 shares during the last quarter. Finally, Forum Financial Management LP increased its position in shares of Boston Scientific by 0.8% in the first quarter. Forum Financial Management LP now owns 13,448 shares of the medical equipment provider’s stock worth $1,357,000 after purchasing an additional 112 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares of the company’s stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president directly owned 22,235 shares of the company’s stock, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 461,144 shares of company stock valued at $47,720,408 over the last three months. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Finally, BTIG Research restated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $117.50.

Boston Scientific Stock Performance

NYSE:BSX opened at $105.84 on Tuesday. The firm has a market cap of $156.58 billion, a PE ratio of 63.00, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $108.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The business has a 50 day moving average price of $103.56 and a 200-day moving average price of $101.66.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Equities research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Boston Scientific Company 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.