Berger Financial Group Inc Boosts Position in Boston Scientific Corporation (NYSE:BSX)

Berger Financial Group Inc boosted its position in shares of Boston Scientific Corporation (NYSE:BSXFree Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,301 shares of the medical equipment provider’s stock after purchasing an additional 1,123 shares during the quarter. Berger Financial Group Inc’s holdings in Boston Scientific were worth $1,140,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. NS Partners Ltd raised its holdings in shares of Boston Scientific by 1.6% in the first quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock worth $37,143,000 after acquiring an additional 5,704 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after acquiring an additional 21,173 shares during the period. Oppenheimer & Co. Inc. grew its position in Boston Scientific by 18.8% during the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider’s stock valued at $3,987,000 after acquiring an additional 6,264 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in Boston Scientific during the first quarter valued at about $8,234,000. Finally, Blue Trust Inc. grew its position in Boston Scientific by 13.0% during the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock valued at $504,000 after acquiring an additional 575 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BSX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Morgan Stanley increased their price target on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Royal Bank Of Canada restated an “outperform” rating on shares of Boston Scientific in a research note on Thursday, July 24th. Raymond James Financial increased their price target on Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 24th. Finally, Citigroup reiterated a “buy” rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three 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 a consensus target price of $117.50.

View Our Latest Analysis on BSX

Insider Buying and Selling at Boston Scientific

In other news, Director Yoshiaki Fujimori sold 2,901 shares of the firm’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares of the company’s stock, valued at $222,646.19. This trade represents a 58.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $5,231,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at $18,659,923.46. The trade was a 21.90% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,029 shares of company stock worth $35,976,603. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Performance

BSX opened at $103.22 on Friday. The firm has a market cap of $152.95 billion, a PE ratio of 61.44, a P/E/G ratio of 2.48 and a beta of 0.66. The company has a quick ratio of 0.88, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $103.54 and a 200-day simple moving average of $102.07. Boston Scientific Corporation has a fifty-two week low of $75.00 and a fifty-two week high of $108.94.

Boston Scientific (NYSE:BSXGet Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company’s revenue was up 22.8% compared to the same quarter last year. During the same period last year, the company posted $0.62 EPS. As a group, equities analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Boston Scientific Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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