Janney Montgomery Scott LLC Acquires 78,301 Shares of Boston Scientific Corporation (NYSE:BSX)

Janney Montgomery Scott LLC grew its holdings in Boston Scientific Corporation (NYSE:BSX) by 37.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 285,463 shares of the medical equipment provider’s stock after acquiring an additional 78,301 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Boston Scientific were worth $28,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSX. Norges Bank acquired a new stake in shares of Boston Scientific during the fourth quarter worth approximately $1,762,522,000. Capital World Investors raised its stake in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after buying an additional 6,216,199 shares during the period. Wellington Management Group LLP grew its position 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 purchasing an additional 3,344,571 shares during the period. GAMMA Investing LLC increased its position in shares of Boston Scientific by 11,720.3% during the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock worth $260,057,000 after acquiring an additional 2,556,078 shares in the last quarter. Finally, Axiom Investors LLC DE lifted its holdings in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $101.72 on Wednesday. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company has a 50 day simple moving average of $101.35 and a two-hundred day simple moving average of $98.89. The company has a market capitalization of $150.49 billion, a price-to-earnings ratio of 74.25, a P/E/G ratio of 2.62 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during 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 quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. Analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction 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 transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BSX shares. BTIG Research restated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Argus set a $130.00 price target on shares of Boston Scientific in a research report on Tuesday, February 18th. Leerink Partnrs upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Monday. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Finally, Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Twenty-two analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus 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.