Plan Group Financial LLC Grows Position in Boston Scientific Corporation (NYSE:BSX)

Plan Group Financial LLC grew its position in shares of Boston Scientific Corporation (NYSE:BSX) by 70.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,475 shares of the medical equipment provider’s stock after acquiring an additional 3,096 shares during the period. Plan Group Financial LLC’s holdings in Boston Scientific were worth $754,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Bank Pictet & Cie Europe AG raised its holdings in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after acquiring an additional 21,173 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Boston Scientific by 18.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider’s stock valued at $3,987,000 after purchasing an additional 6,264 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Boston Scientific in the first quarter worth about $8,234,000. Blue Trust Inc. boosted its position in Boston Scientific by 13.0% during the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock valued at $504,000 after acquiring an additional 575 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Boston Scientific by 109.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider’s stock worth $24,126,000 after acquiring an additional 141,398 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Barclays lifted their price target on shares of Boston Scientific from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. UBS Group upped their price objective on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. BTIG Research reaffirmed a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Truist Financial lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $117.50.

Boston Scientific Stock Up 1.3%

BSX stock opened at $106.74 on Tuesday. The business’s 50-day moving average is $103.67 and its two-hundred day moving average is $101.98. The company has a market cap of $157.92 billion, a price-to-earnings ratio of 63.54, a P/E/G ratio of 2.54 and a beta of 0.66. 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.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company posted $0.62 EPS. The company’s revenue was up 22.8% compared to the same quarter last year. As a group, analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, Director Yoshiaki Fujimori sold 2,901 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the sale, the director directly owned 2,081 shares in the company, valued at $222,646.19. This trade represents a 58.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at $2,469,268. This represents a 42.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 345,029 shares of company stock worth $35,976,603 in the last quarter. 0.50% of the stock is currently owned by 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.