Boston Scientific Co. (NYSE:BSX) Position Raised by Breakwater Capital Group

Breakwater Capital Group raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 7,887 shares of the medical equipment provider’s stock after buying an additional 221 shares during the period. Breakwater Capital Group’s holdings in Boston Scientific were worth $796,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP grew its position in Boston Scientific by 10.2% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its stake in Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the period. Capital World Investors lifted its position in Boston Scientific by 28.7% in 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 in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Boston Scientific by 2.5% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock valued at $1,992,994,000 after buying an additional 554,388 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of BSX opened at $102.67 on Friday. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a market capitalization of $151.90 billion, a P/E ratio of 82.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm has a 50 day moving average of $100.47 and a 200 day moving average of $98.29. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the business posted $0.56 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BSX. Morgan Stanley lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Needham & Company LLC restated a “buy” rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Truist Financial upped their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. Finally, Robert W. Baird upped their price target on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $116.00.

Boston Scientific Company 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.