Southland Equity Partners LLC Purchases Shares of 2,179 Boston Scientific Co. (NYSE:BSX)

Southland Equity Partners LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,179 shares of the medical equipment provider’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parnassus Investments LLC increased its position 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 valued at $1,327,000 after acquiring an additional 97 shares in the last quarter. Baldwin Investment Management LLC increased its position in Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after acquiring an additional 102 shares in the last quarter. Evergreen Capital Management LLC increased its position in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after acquiring an additional 106 shares in the last quarter. PDS Planning Inc increased its position in Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after acquiring an additional 113 shares in the last quarter. Finally, Paladin Wealth LLC increased its position 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 valued at $722,000 after acquiring an additional 113 shares in the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Up 1.1%

Boston Scientific stock opened at $99.60 on Friday. The company’s 50 day simple moving average is $101.03 and its 200 day simple moving average is $98.68. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The firm has a market capitalization of $147.35 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Morgan Stanley raised their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. 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-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $116.00.

Boston Scientific 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.