Bamco Inc. NY Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Bamco Inc. NY grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 6.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,000 shares of the medical equipment provider’s stock after purchasing an additional 9,700 shares during the quarter. Bamco Inc. NY’s holdings in Boston Scientific were worth $10,547,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BSX. First Foundation Advisors acquired a new position in Boston Scientific during the first quarter worth $25,000. Eagle Bay Advisors LLC raised its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares during the period. RiverPark Advisors LLC acquired a new position in Boston Scientific during the first quarter worth $30,000. Northwest Investment Counselors LLC acquired a new position in Boston Scientific during the first quarter worth $31,000. Finally, YHB Investment Advisors Inc. acquired a new position in Boston Scientific during the first quarter worth $32,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BSX shares. Evercore ISI upped their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. BTIG Research increased their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. TD Cowen increased their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Wells Fargo & Company increased their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Argus increased their target price on shares of Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Two equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.76.

Insider Activity

In other news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,441 shares of company stock valued at $4,624,453. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Trading Up 0.6 %

BSX stock traded up $0.44 during mid-day trading on Monday, hitting $75.36. 2,804,203 shares of the company were exchanged, compared to its average volume of 6,273,459. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $110.56 billion, a P/E ratio of 63.13, a PEG ratio of 2.55 and a beta of 0.78. The business has a fifty day simple moving average of $76.49 and a 200-day simple moving average of $70.47. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. Boston Scientific’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. On average, equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.