Arvest Investments Inc. Makes New $1.31 Million Investment in Boston Scientific Co. (NYSE:BSX)

Arvest Investments Inc. bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 1st quarter, HoldingsChannel.com reports. The fund bought 12,937 shares of the medical equipment provider’s stock, valued at approximately $1,305,000.

Several other institutional investors have also recently made changes to their positions in the company. Parnassus Investments LLC increased its holdings in shares of Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC increased its holdings in shares of Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 102 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after purchasing an additional 106 shares in the last quarter. PDS Planning Inc increased its holdings in shares of Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC increased its holdings in shares of Boston Scientific by 1.6% during the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock valued at $722,000 after purchasing an additional 113 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total value of $5,799,551.36. Following the transaction, the executive vice president now owns 178,342 shares of the company’s stock, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 in the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.0%

NYSE BSX opened at $99.38 on Thursday. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $100.70 and its 200-day simple moving average is $98.55. The firm has a market cap of $147.03 billion, a PE ratio of 79.50, a P/E/G 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, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BSX. Robert W. Baird lifted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Citigroup reissued a “buy” rating and issued a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Barclays lifted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Twenty-one investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $116.00.

Boston Scientific 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.