Gamco Investors INC. ET AL Increases Stock Holdings in Boston Scientific Corporation $BSX

Gamco Investors INC. ET AL boosted its stake in Boston Scientific Corporation (NYSE:BSX) by 39.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,146 shares of the medical equipment provider’s stock after buying an additional 43,507 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Boston Scientific were worth $9,735,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BSX. FWL Investment Management LLC acquired a new position in Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. purchased a new position in Boston Scientific in the fourth quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Boston Scientific during the 4th quarter worth about $26,000. Bangor Savings Bank raised its position in Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Finally, Sfam LLC acquired a new position in Boston Scientific during the 4th quarter worth about $29,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BSX shares. Piper Sandler reiterated an “overweight” rating and issued a $65.00 target price on shares of Boston Scientific in a report on Friday, June 12th. Oppenheimer set a $90.00 price objective on shares of Boston Scientific in a research note on Thursday, April 23rd. Citigroup reduced their target price on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 28th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stifel Nicolaus cut their target price on Boston Scientific from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Trading Up 1.6%

BSX stock opened at $44.26 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The company has a market cap of $65.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.85 and a beta of 0.58. The business has a fifty day simple moving average of $47.21 and a 200-day simple moving average of $64.06. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its Board of Directors has authorized a stock buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Boston Scientific

In other news, Director Cheryl Pegus acquired 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director David C. Habiger bought 2,250 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $55.92 per share, with a total value of $125,820.00. Following the transaction, the director owned 13,878 shares in the company, valued at approximately $776,057.76. This represents a 19.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 9,800 shares of company stock worth $554,012 in the last three months. 0.34% of the stock is currently owned by company insiders.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.