Tlwm Purchases Shares of 13,538 Boston Scientific Co. (NYSE:BSX)

Tlwm acquired a new position in Boston Scientific Co. (NYSE:BSX) during the first quarter, according to its most recent filing with the SEC. The firm acquired 13,538 shares of the medical equipment provider’s stock, valued at approximately $927,000.

Other hedge funds have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in Boston Scientific in the first quarter worth $31,000. Sachetta LLC bought a new position in Boston Scientific in the fourth quarter worth $32,000. Frazier Financial Advisors LLC purchased a new position in Boston Scientific during the fourth quarter valued at $32,000. Finally, Jones Financial Companies Lllp grew its position in shares of Boston Scientific by 53.0% in the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 193 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Insiders sold 81,627 shares of company stock worth $5,937,353 over the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX traded down $0.10 during midday trading on Thursday, reaching $77.00. 4,196,078 shares of the company’s stock traded hands, compared to its average volume of 6,303,551. The company has a market cap of $112.97 billion, a P/E ratio of 64.62, a PEG ratio of 2.67 and a beta of 0.81. The company has a fifty day simple moving average of $74.46 and a two-hundred day simple moving average of $67.29. 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 Co. has a 1 year low of $48.35 and a 1 year high of $77.99.

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BSX. Robert W. Baird lifted their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a research note on Tuesday, June 18th. Citigroup increased their price target on shares of Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, Barclays increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.70.

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.