Financial Perspectives Inc Has $13.84 Million Holdings in Boston Scientific Corporation (NYSE:BSX)

Financial Perspectives Inc lowered its position in Boston Scientific Corporation (NYSE:BSX) by 5.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 137,192 shares of the medical equipment provider’s stock after selling 7,728 shares during the quarter. Boston Scientific makes up about 4.7% of Financial Perspectives Inc’s investment portfolio, making the stock its 5th largest position. Financial Perspectives Inc’s holdings in Boston Scientific were worth $13,840,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Parnassus Investments LLC boosted its holdings in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after buying an additional 97 shares during the period. Baldwin Investment Management LLC lifted its stake in Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after purchasing an additional 102 shares in the last quarter. Evergreen Capital Management LLC lifted its stake in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after purchasing an additional 106 shares in the last quarter. PDS Planning Inc lifted its stake in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC lifted its stake in Boston Scientific by 1.6% in the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock worth $722,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $101.72 on Wednesday. The company has a market capitalization of $150.49 billion, a price-to-earnings ratio of 74.25, a PEG ratio of 2.62 and a beta of 0.68. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.17. The firm’s 50-day moving average is $101.35 and its 200 day moving average is $98.89. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last issued 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. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

BSX has been the topic of several research analyst reports. Leerink Partners initiated coverage on shares of Boston Scientific in a research note on Monday. They issued an “outperform” rating and a $118.00 price target on the stock. BTIG Research reiterated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Citigroup reiterated 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 upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Twenty-two analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $116.09.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the company’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction dated Monday, April 21st. The stock was 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 owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company’s stock.

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.