PFG Investments LLC Acquires 2,997 Shares of Boston Scientific Co. (NYSE:BSX)

PFG Investments LLC raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 61.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,885 shares of the medical equipment provider’s stock after buying an additional 2,997 shares during the quarter. PFG Investments LLC’s holdings in Boston Scientific were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new position in Boston Scientific during the fourth quarter valued at approximately $28,000. Northwest Investment Counselors LLC purchased a new stake in shares of Boston Scientific during the 1st quarter worth approximately $31,000. Sachetta LLC bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $32,000. Frazier Financial Advisors LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $32,000. Finally, Jones Financial Companies Lllp increased its position in Boston Scientific by 53.0% in the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after purchasing an additional 193 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold a total of 60,797 shares of company stock valued at $4,138,090 over the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Down 0.9 %

Shares of BSX stock traded down $0.69 during mid-day trading on Monday, hitting $72.48. The stock had a trading volume of 9,463,878 shares, compared to its average volume of 6,623,186. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm’s 50-day moving average is $67.96 and its two-hundred day moving average is $60.80. The firm has a market capitalization of $106.34 billion, a P/E ratio of 60.91, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BSX shares. Argus increased their price objective on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company lifted their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho upped their price objective on Boston Scientific from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lifted their target price on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada increased their price target on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.09.

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.