HM Payson & Co. Increases Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

HM Payson & Co. lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,875 shares of the medical equipment provider’s stock after buying an additional 98 shares during the period. HM Payson & Co.’s holdings in Boston Scientific were worth $694,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank Pictet & Cie Europe AG boosted its position in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock valued at $6,529,000 after buying an additional 21,173 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Boston Scientific by 18.8% during the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider’s stock worth $3,987,000 after acquiring an additional 6,264 shares during the period. Blue Trust Inc. lifted its holdings in Boston Scientific by 13.0% during the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock worth $504,000 after acquiring an additional 575 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Boston Scientific by 109.9% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider’s stock worth $24,126,000 after acquiring an additional 141,398 shares during the period. Finally, Little House Capital LLC bought a new stake in Boston Scientific during the first quarter worth $945,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s 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 transaction, the executive vice president owned 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. The trade was a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock valued at $47,755,193 over the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.30 on Friday. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53. The stock has a fifty day moving average of $103.42 and a 200-day moving average of $100.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The stock has a market cap of $154.30 billion, a PE ratio of 76.13, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its earnings results 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. 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 analysts’ expectations of $4.57 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on BSX. Truist Financial lifted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Barclays lifted their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Leerink Partnrs upgraded Boston Scientific to a “strong-buy” rating in a report on Monday, June 16th. Robert W. Baird lifted their price target on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $116.09.

Boston Scientific 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.