Invesco LLC Makes New Investment in Boston Scientific Corporation (NYSE:BSX)

Invesco LLC bought a new stake in shares of Boston Scientific Corporation (NYSE:BSX) during the first quarter, HoldingsChannel reports. The firm bought 3,584 shares of the medical equipment provider’s stock, valued at approximately $362,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Parnassus Investments LLC lifted its stake in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC increased its holdings 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 worth $781,000 after purchasing an additional 102 shares during the last quarter. Evergreen Capital Management LLC lifted its position in shares of Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares in the last quarter. PDS Planning Inc grew its holdings in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after buying an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC increased its stake in Boston Scientific by 1.6% in the 1st quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock worth $722,000 after acquiring an additional 113 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president now directly owns 18,705 shares of the company’s stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 1.1%

Shares of NYSE BSX opened at $102.38 on Tuesday. The business has a fifty day moving average price of $101.94 and a 200 day moving average price of $99.26. Boston Scientific Corporation has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The stock has a market capitalization of $151.47 billion, a P/E ratio of 74.73, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the business posted $0.56 EPS. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. Equities research analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

BSX has been the subject of several research reports. Leerink Partnrs upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Monday, June 16th. Royal Bank Of Canada raised their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Barclays increased their price target on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $116.09.

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.