Boston Scientific Co. (NYSE:BSX) Shares Purchased by Congress Asset Management Co. MA

Congress Asset Management Co. MA boosted its stake in Boston Scientific Co. (NYSE:BSX) by 2.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,509,479 shares of the medical equipment provider’s stock after acquiring an additional 31,615 shares during the quarter. Congress Asset Management Co. MA owned about 0.10% of Boston Scientific worth $103,384,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BSX. Vanguard Group Inc. grew its position in shares of Boston Scientific by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock worth $7,252,253,000 after buying an additional 1,681,454 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the last quarter. Primecap Management Co. CA grew its stake in Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after purchasing an additional 550,490 shares in the last quarter. Morgan Stanley increased its holdings in Boston Scientific by 2.3% in the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after buying an additional 481,891 shares during the last quarter. Finally, Norges Bank acquired a new stake in Boston Scientific during the fourth quarter valued at approximately $930,626,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.9 %

Shares of BSX stock traded up $0.71 during trading on Friday, hitting $77.71. 9,938,194 shares of the company were exchanged, compared to its average volume of 4,647,806. The business’s 50-day simple moving average is $73.90 and its 200 day simple moving average is $66.83. Boston Scientific Co. has a twelve month low of $48.35 and a twelve month high of $77.81. The firm has a market capitalization of $114.01 billion, a price-to-earnings ratio of 65.30, a P/E/G ratio of 2.72 and a beta of 0.81. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.68 billion. As a group, analysts forecast that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on BSX shares. Evercore ISI lifted their target price on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Argus boosted their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Citigroup lifted their price objective on shares of Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Sunday, June 16th. Finally, Wells Fargo & Company boosted their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.70.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold a total of 81,627 shares of company stock valued at $5,937,353 in the last three months. Insiders own 0.50% of the company’s stock.

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.