McElhenny Sheffield Capital Management LLC Invests $514,000 in Boston Scientific Co. (NYSE:BSX)

McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 5,094 shares of the medical equipment provider’s stock, valued at approximately $514,000.

Several other institutional investors also recently modified their holdings of the business. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Colonial Trust Co SC raised its holdings 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 valued at $25,000 after purchasing an additional 260 shares during the last quarter. Investment Management Corp VA ADV bought a new position in Boston Scientific during the fourth quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific in the fourth quarter worth approximately $26,000. Finally, Ameriflex Group Inc. bought a new stake in Boston Scientific in the 4th quarter worth approximately $31,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Citigroup reissued a “buy” rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. BTIG Research reiterated a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Evercore ISI boosted their price target on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Argus set a $130.00 price target on shares of Boston Scientific in a research report on Tuesday, February 18th. Twenty-one equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $116.00.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the sale, the executive vice president now directly owns 178,342 shares in the company, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer now owns 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,970 shares of company stock valued at $42,406,693. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $99.38 on Thursday. The firm has a market cap of $147.03 billion, a price-to-earnings ratio of 79.50, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a fifty day moving average price of $100.70 and a 200 day moving average price of $98.55.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.07% and a return on equity of 17.80%. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal 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.