Segall Bryant & Hamill LLC Buys Shares of 81,620 Boston Scientific Corporation (NYSE:BSX)

Segall Bryant & Hamill LLC bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the first quarter, Holdings Channel reports. The firm bought 81,620 shares of the medical equipment provider’s stock, valued at approximately $8,234,000.

Several other institutional investors and hedge funds have also made changes to their positions in BSX. HM Payson & Co. increased its stake in shares of Boston Scientific by 1.4% in the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider’s stock valued at $694,000 after buying an additional 98 shares during the period. Baldwin Investment Management LLC increased its stake in shares of Boston Scientific by 1.2% in the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after buying an additional 102 shares during the period. Park Square Financial Group LLC boosted its holdings in Boston Scientific by 5.2% in the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider’s stock worth $208,000 after acquiring an additional 103 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after acquiring an additional 106 shares during the period. Finally, Paladin Wealth LLC grew its position in shares of Boston Scientific by 1.6% in the first 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 institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific 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 sale, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Trading Up 1.4%

NYSE:BSX opened at $104.62 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average price is $103.40 and its 200-day moving average price is $100.90. The stock has a market cap of $154.78 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 2.68 and a beta of 0.68. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week 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. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period last year, the business earned $0.56 EPS. Boston Scientific’s revenue for the quarter was up 20.9% on a year-over-year basis. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BSX shares. Leerink Partnrs upgraded Boston Scientific to a “strong-buy” rating in a research note on Monday, June 16th. Truist Financial lifted their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Evercore ISI boosted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Finally, Barclays raised their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $116.09.

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.