Kennedy Capital Management LLC Acquires Shares of 44,102 Boston Scientific Co. (NYSE:BSX)

Kennedy Capital Management LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 44,102 shares of the medical equipment provider’s stock, valued at approximately $3,021,000.

A number of other institutional investors have also recently added to or reduced their stakes in BSX. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of Boston Scientific by 1.5% during 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 buying an additional 550,490 shares in the last quarter. Norges Bank acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $930,626,000. Capital World Investors lifted its stake in shares of Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares in the last quarter. Finally, Putnam Investments LLC boosted its position in Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.3 %

BSX traded up $0.25 during trading hours on Wednesday, reaching $74.28. 1,522,725 shares of the stock traded hands, compared to its average volume of 6,295,119. The company has a market cap of $108.98 billion, a price-to-earnings ratio of 62.21, a PEG ratio of 2.58 and a beta of 0.78. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $79.43. The firm’s fifty day simple moving average is $76.46 and its two-hundred day simple moving average is $70.69. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business posted $0.53 EPS. Boston Scientific’s revenue was up 14.5% on a year-over-year basis. As a group, analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The stock was 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 owns 45,628 shares in the company, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,854 shares of company stock worth $3,366,983. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent research reports. Raymond James increased their price objective on shares of Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Argus increased their price target on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Evercore ISI lifted their price objective on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Robert W. Baird upped their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays lifted their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $84.76.

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.