Janney Montgomery Scott LLC Buys 78,301 Shares of Boston Scientific Corporation (NYSE:BSX)

Janney Montgomery Scott LLC raised its stake in Boston Scientific Corporation (NYSE:BSX) by 37.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 285,463 shares of the medical equipment provider’s stock after acquiring an additional 78,301 shares during the period. Janney Montgomery Scott LLC’s holdings in Boston Scientific were worth $28,798,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP increased its holdings in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC increased its holdings in Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares during the last quarter. Capital World Investors increased its holdings in shares of Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider’s stock worth $1,992,994,000 after buying an additional 554,388 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of BSX opened at $101.72 on Wednesday. The company has a 50 day moving average price of $101.35 and a 200-day moving average price of $98.89. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The stock has a market capitalization of $150.49 billion, a PE ratio of 74.25, a PEG ratio of 2.62 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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 firm had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Equities analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Leerink Partnrs upgraded shares of Boston Scientific to a “strong-buy” rating in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Leerink Partners initiated coverage on shares of Boston Scientific in a report on Monday. They set an “outperform” rating and a $118.00 price target on the stock. Finally, Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Twenty-two investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and a consensus target price of $116.09.

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.