Checchi Capital Advisers LLC Acquires 123 Shares of Boston Scientific Corporation (NYSE:BSX)

Checchi Capital Advisers LLC lifted its holdings in Boston Scientific Corporation (NYSE:BSX) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,729 shares of the medical equipment provider’s stock after buying an additional 123 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Boston Scientific were worth $1,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 260 shares during the period. Investment Management Corp VA ADV bought a new position in Boston Scientific during the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific in the 4th quarter worth approximately $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific in the 4th quarter worth approximately $31,000. Finally, Fairway Wealth LLC bought a new position in shares of Boston Scientific in the 4th quarter worth approximately $36,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president owned 36,193 shares of the company’s stock, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Up 0.6%

NYSE:BSX opened at $104.30 on Friday. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $107.53. The company has a market cap of $154.30 billion, a price-to-earnings ratio of 76.13, a price-to-earnings-growth ratio of 2.69 and a beta of 0.68. The stock has a fifty day simple moving average of $103.37 and a 200-day simple moving average of $99.96. 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 (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. Analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Truist Financial raised their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Leerink Partnrs raised shares of Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Leerink Partners initiated coverage on shares of Boston Scientific in a report on Monday, June 16th. They set an “outperform” rating and a $118.00 price objective for the company. Finally, Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average 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.