Boston Scientific Corporation (NYSE:BSX) Shares Acquired by Graypoint LLC

Graypoint LLC lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,015 shares of the medical equipment provider’s stock after acquiring an additional 118 shares during the quarter. Graypoint LLC’s holdings in Boston Scientific were worth $1,515,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC increased its stake in Boston Scientific by 8.6% in the first quarter. Legacy Capital Wealth Partners LLC now owns 3,374 shares of the medical equipment provider’s stock valued at $340,000 after purchasing an additional 267 shares in the last quarter. Triasima Portfolio Management inc. increased its holdings in Boston Scientific by 8.7% during the first quarter. Triasima Portfolio Management inc. now owns 44,569 shares of the medical equipment provider’s stock worth $4,496,000 after buying an additional 3,559 shares during the last quarter. Cable Hill Partners LLC lifted its position in Boston Scientific by 3.7% during the first quarter. Cable Hill Partners LLC now owns 6,441 shares of the medical equipment provider’s stock valued at $663,000 after purchasing an additional 232 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new position in Boston Scientific during the 1st quarter valued at $8,234,000. Finally, Victory Capital Management Inc. boosted its stake in Boston Scientific by 57.4% in the 1st quarter. Victory Capital Management Inc. now owns 805,696 shares of the medical equipment provider’s stock worth $81,279,000 after purchasing an additional 293,928 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of research analyst reports. Evercore ISI increased their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Royal Bank Of Canada lifted their target price on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Finally, Citigroup restated a “buy” rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $116.09.

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total value of $5,348,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at approximately $19,077,243.74. The trade was a 21.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the transaction, the chief executive officer owned 1,476,882 shares of the company’s stock, valued at $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $104.62 on Friday. The firm has a market cap of $154.78 billion, a PE ratio of 76.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68. The firm’s 50 day simple moving average is $103.40 and its 200-day simple moving average is $100.90. 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 Corporation has a one year low of $71.88 and a one year high of $107.53.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. As a group, equities analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

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.