Global Financial Private Capital LLC Buys New Shares in Boston Scientific Co. (NYSE:BSX)

Global Financial Private Capital LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 30,885 shares of the medical equipment provider’s stock, valued at approximately $1,185,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc lifted its stake in shares of Boston Scientific by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 101,453,358 shares of the medical equipment provider’s stock valued at $3,905,954,000 after purchasing an additional 1,367,053 shares during the last quarter. We Are One Seven LLC acquired a new stake in shares of Boston Scientific in the 4th quarter valued at $27,000. CWM LLC lifted its stake in shares of Boston Scientific by 54.3% in the 4th quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 359 shares during the last quarter. Keybank National Association OH lifted its stake in shares of Boston Scientific by 7.8% in the 4th quarter. Keybank National Association OH now owns 15,201 shares of the medical equipment provider’s stock valued at $537,000 after purchasing an additional 1,106 shares during the last quarter. Finally, Exane Derivatives lifted its position in Boston Scientific by 116,300.0% during the 4th quarter. Exane Derivatives now owns 1,164 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 1,163 shares during the last quarter. 90.68% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Xin Warren Wang sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $38.45, for a total value of $384,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maulik Nanavaty sold 3,038 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $36.74, for a total transaction of $111,616.12. The disclosure for this sale can be found here. Insiders have sold 42,059 shares of company stock worth $1,611,003 over the last quarter. 0.66% of the stock is owned by company insiders.

A number of research firms have weighed in on BSX. Canaccord Genuity boosted their target price on shares of Boston Scientific from $43.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Jaffray Companies boosted their target price on shares of Boston Scientific from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI raised shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price for the company in a research report on Monday, May 13th. Jefferies Financial Group boosted their target price on shares of Boston Scientific from $44.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Stifel Nicolaus upped their price objective on shares of Boston Scientific from $44.00 to $46.00 and gave the company an “in-line” rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $43.63.

Boston Scientific stock traded up $1.05 during trading hours on Friday, hitting $42.98. 12,753,700 shares of the stock were exchanged, compared to its average volume of 7,769,971. Boston Scientific Co. has a 12 month low of $31.56 and a 12 month high of $43.02. The stock has a 50-day moving average of $39.43. The stock has a market capitalization of $58.52 billion, a PE ratio of 29.24, a P/E/G ratio of 2.45 and a beta of 0.75. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Boston Scientific had a return on equity of 24.65% and a net margin of 18.08%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. Boston Scientific’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, sell-side analysts expect that Boston Scientific Co. will post 1.55 EPS for the current year.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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

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