Clare Market Investments LLC Acquires Shares of 11,250 Boston Scientific Co. (NYSE:BSX)

Clare Market Investments LLC acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,250 shares of the medical equipment provider’s stock, valued at approximately $1,135,000.

A number of other hedge funds also recently bought and sold shares of BSX. Covenant Asset Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth approximately $3,405,000. Jackson Wealth Management LLC lifted its position in shares of Boston Scientific by 1,201.1% in the fourth quarter. Jackson Wealth Management LLC now owns 51,770 shares of the medical equipment provider’s stock worth $4,624,000 after purchasing an additional 47,791 shares in the last quarter. Wealthstar Advisors LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth approximately $499,000. Stratos Wealth Partners LTD. lifted its position in shares of Boston Scientific by 136.1% in the fourth quarter. Stratos Wealth Partners LTD. now owns 23,590 shares of the medical equipment provider’s stock worth $2,107,000 after purchasing an additional 13,597 shares in the last quarter. Finally, BostonPremier Wealth LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth approximately $226,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BSX shares. BTIG Research reissued a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Citigroup reissued a “buy” rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Evercore ISI raised their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. Twenty-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $116.00.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,572 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 411,970 shares of company stock worth $42,406,693. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.7%

Shares of BSX stock opened at $102.41 on Thursday. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business’s 50 day moving average is $100.44 and its two-hundred day moving average is $98.20. The company has a market cap of $151.51 billion, a PE ratio of 81.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. Equities analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

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.