Modus Advisors LLC Raises Stake in Boston Scientific Co. (NYSE:BSX)

Modus Advisors LLC grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 13.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,773 shares of the medical equipment provider’s stock after purchasing an additional 941 shares during the period. Modus Advisors LLC’s holdings in Boston Scientific were worth $532,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Louisiana State Employees Retirement System purchased a new stake in shares of Boston Scientific during the 4th quarter worth $5,116,000. Glenmede Trust Co. NA boosted its position in shares of Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Boston Scientific by 10.7% in the 4th quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock worth $93,417,000 after buying an additional 155,565 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in shares of Boston Scientific in the 4th quarter worth about $8,038,000. Finally, HealthInvest Partners AB purchased a new stake in shares of Boston Scientific in the 4th quarter worth about $3,746,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.2 %

NYSE:BSX traded up $0.14 during trading hours on Tuesday, hitting $76.33. The stock had a trading volume of 2,974,330 shares, compared to its average volume of 6,258,459. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.64. The business has a 50 day simple moving average of $73.24 and a two-hundred day simple moving average of $66.30. The company has a market cap of $111.98 billion, a PE ratio of 64.17, a price-to-earnings-growth ratio of 2.64 and a beta of 0.81.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Analysts predict that Boston Scientific Co. will post 2.32 EPS for the current year.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. In the last three months, insiders sold 81,627 shares of company stock worth $5,937,353. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on BSX shares. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Sunday. Needham & Company LLC restated a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a report on Tuesday. Robert W. Baird upped their target price on shares of Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Raymond James upped their target price on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $76.70.

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.