Boston Scientific Co. (NYSE:BSX) Shares Bought by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC grew its stake in Boston Scientific Co. (NYSE:BSX) by 6.4% in the fourth quarter, Holdings Channel reports. The fund owned 68,295 shares of the medical equipment provider’s stock after purchasing an additional 4,095 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Boston Scientific were worth $6,100,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $1,762,522,000. Capital World Investors boosted its holdings in Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the period. Axiom Investors LLC DE grew its stake in shares of Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after buying an additional 2,535,007 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Boston Scientific by 18.0% during the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock worth $1,303,681,000 after buying an additional 2,221,790 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on BSX shares. Evercore ISI upped their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. UBS Group upped their price target on Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley raised their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Citigroup upped their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $114.74.

Boston Scientific Stock Performance

Shares of BSX stock opened at $106.00 on Monday. The firm has a 50 day moving average of $99.18 and a two-hundred day moving average of $96.74. The stock has a market capitalization of $156.83 billion, a PE ratio of 84.80, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the business posted $0.56 earnings per share. Boston Scientific’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,820 shares of company stock worth $27,406,958. 0.50% of the stock is currently owned by company insiders.

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.