Boston Scientific Co. (NYSE:BSX) Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its position in Boston Scientific Co. (NYSE:BSX) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 167,144 shares of the medical equipment provider’s stock after acquiring an additional 17,781 shares during the quarter. Rafferty Asset Management LLC’s holdings in Boston Scientific were worth $14,929,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Investment Advisors LLC raised its holdings in Boston Scientific by 12.2% during the fourth quarter. Capital Investment Advisors LLC now owns 2,899 shares of the medical equipment provider’s stock worth $259,000 after purchasing an additional 315 shares in the last quarter. Moody National Bank Trust Division acquired a new position in shares of Boston Scientific in the 4th quarter valued at $249,000. Claro Advisors LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $244,000. Miracle Mile Advisors LLC increased its holdings in shares of Boston Scientific by 4.7% in the 4th quarter. Miracle Mile Advisors LLC now owns 5,498 shares of the medical equipment provider’s stock valued at $491,000 after acquiring an additional 246 shares during the period. Finally, Accurate Wealth Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $228,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.6%

NYSE BSX opened at $104.63 on Friday. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17. The company’s 50 day moving average price is $98.98 and its 200 day moving average price is $96.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $154.79 billion, a price-to-earnings ratio of 83.70, a PEG ratio of 2.79 and a beta of 0.68.

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

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares of the company’s stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 265,820 shares of company stock worth $27,406,958. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BSX. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Needham & Company LLC lifted their price objective on shares of Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Evercore ISI lifted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $114.52.

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.