Boston Scientific Corporation (NYSE:BSX) Stake Increased by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 14.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,843 shares of the medical equipment provider’s stock after purchasing an additional 1,371 shares during the period. OneDigital Investment Advisors LLC’s holdings in Boston Scientific were worth $1,094,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BSX. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific during the fourth quarter worth about $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific during the fourth quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific during the fourth quarter worth about $31,000. Finally, Fairway Wealth LLC bought a new position in shares of Boston Scientific during the fourth quarter worth about $36,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Barclays upped their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Leerink Partnrs raised shares of Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Finally, Morgan Stanley upped their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $116.09.

Boston Scientific Trading Down 0.5%

Shares of BSX stock opened at $103.75 on Tuesday. The stock has a market cap of $153.49 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 2.71 and a beta of 0.68. The stock has a 50-day moving average of $103.45 and a 200-day moving average of $100.32. 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 1-year low of $71.88 and a 1-year high of $107.53.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. On average, equities research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president owned 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the sale, the chief executive officer directly owned 1,476,882 shares of the company’s stock, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 461,970 shares of company stock valued at $47,755,193. Company insiders own 0.50% of the company’s stock.

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.