Insigneo Advisory Services LLC Buys 2,906 Shares of Boston Scientific Co. (NYSE:BSX)

Insigneo Advisory Services LLC lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 24.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,631 shares of the medical equipment provider’s stock after acquiring an additional 2,906 shares during the period. Insigneo Advisory Services LLC’s holdings in Boston Scientific were worth $1,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific during the 4th quarter worth about $25,000. Colonial Trust Co SC raised its stake in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares during the period. Sunbeam Capital Management LLC acquired a new position in Boston Scientific during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in Boston Scientific in the fourth quarter worth approximately $31,000. Finally, Fairway Wealth LLC acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $36,000. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the sale, the executive vice president now directly owns 178,342 shares in the company, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

Boston Scientific stock opened at $101.49 on Tuesday. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The stock has a market cap of $150.15 billion, a price-to-earnings ratio of 81.19, a PEG ratio of 2.79 and a beta of 0.68. The stock’s 50 day simple moving average is $101.25 and its two-hundred day simple moving average is $98.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

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

Analyst Ratings Changes

Several research analysts have 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 report on Friday, May 16th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Robert W. Baird boosted 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. Finally, Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Twenty-two 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.com, the company currently has a consensus rating of “Buy” and an average price target of $116.09.

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.