Mesirow Financial Investment Management Inc. Grows Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Mesirow Financial Investment Management Inc. grew its holdings in Boston Scientific Corporation (NYSE:BSX) by 15.6% during the first quarter, HoldingsChannel.com reports. The fund owned 3,070 shares of the medical equipment provider’s stock after purchasing an additional 415 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Boston Scientific were worth $310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Colonial Trust Co SC increased its holdings in 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 valued at $25,000 after purchasing an additional 260 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Boston Scientific during the fourth quarter worth about $25,000. Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth about $26,000. Ameriflex Group Inc. purchased a new stake in shares of Boston Scientific in the fourth quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president owned 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director directly owned 18,479 shares in the company, valued at approximately $1,959,328.37. This trade represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 282,288 shares of company stock valued at $29,411,601 in the last three months. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $105.40 on Friday. The company has a market cap of $155.93 billion, a P/E ratio of 62.74, a PEG ratio of 2.53 and a beta of 0.66. The business has a 50 day moving average of $103.63 and a two-hundred day moving average of $101.87. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $108.94. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the business posted $0.62 EPS. The business’s revenue was up 22.8% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Leerink Partners assumed coverage on Boston Scientific in a report on Monday, June 16th. They issued an “outperform” rating and a $118.00 price target for the company. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Truist Financial raised their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Citigroup reiterated a “buy” rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Finally, Wall Street Zen raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $117.50.

About Boston Scientific

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.