Legacy Advisors LLC Buys 446 Shares of Boston Scientific Corporation (NYSE:BSX)

Legacy Advisors LLC increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 12.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,905 shares of the medical equipment provider’s stock after purchasing an additional 446 shares during the quarter. Legacy Advisors LLC’s holdings in Boston Scientific were worth $394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Parnassus Investments LLC lifted its holdings in shares of Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC lifted its holdings in shares of Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 102 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after purchasing an additional 106 shares in the last quarter. PDS Planning Inc lifted its holdings in shares of Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after purchasing an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC lifted its holdings in shares of Boston Scientific by 1.6% during the first quarter. Paladin Wealth LLC now owns 7,156 shares of the medical equipment provider’s stock valued at $722,000 after purchasing an additional 113 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on BSX shares. Truist Financial increased their target price on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Needham & Company LLC reissued a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Leerink Partners started coverage on Boston Scientific in a report on Monday, June 16th. They issued an “outperform” rating and a $118.00 target price on the stock. Citigroup reissued a “buy” rating and issued a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Finally, Barclays increased their target price on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of “Buy” and a consensus price target of $116.09.

Boston Scientific Stock Performance

NYSE:BSX opened at $104.31 on Thursday. The stock has a market capitalization of $154.32 billion, a P/E ratio of 76.14, a P/E/G ratio of 2.69 and a beta of 0.68. The stock has a 50-day moving average price of $102.32 and a 200 day moving average price of $99.33. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The stock was 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 in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president now owns 178,342 shares of the company’s stock, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock valued at $42,406,693 in the last quarter. 0.50% of the stock is currently owned by insiders.

About Boston Scientific

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.