Silvercrest Asset Management Group LLC Acquires 11,138 Shares of Boston Scientific Co. (NYSE:BSX)

Silvercrest Asset Management Group LLC grew its holdings in Boston Scientific Co. (NYSE:BSX) by 28.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,808 shares of the medical equipment provider’s stock after purchasing an additional 11,138 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Boston Scientific were worth $3,480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BSX. Global Retirement Partners LLC increased its holdings in shares of Boston Scientific by 38.6% in the 4th quarter. Global Retirement Partners LLC now owns 1,109 shares of the medical equipment provider’s stock worth $67,000 after purchasing an additional 309 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in shares of Boston Scientific by 8.9% in the 4th quarter. AdvisorNet Financial Inc now owns 3,539 shares of the medical equipment provider’s stock worth $205,000 after buying an additional 290 shares during the last quarter. Chicago Capital LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth $2,581,000. Pallas Capital Advisors LLC purchased a new position in shares of Boston Scientific in the 4th quarter worth $234,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 215 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 2.5 %

Shares of BSX traded down $1.90 during mid-day trading on Tuesday, reaching $73.69. 5,893,933 shares of the company’s stock traded hands, compared to its average volume of 6,299,732. The stock has a market cap of $108.11 billion, a P/E ratio of 63.52, a P/E/G ratio of 2.55 and a beta of 0.78. The stock’s 50-day moving average is $76.49 and its two-hundred day moving average is $70.59. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $79.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 earnings per share. Research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BSX. Citigroup raised their price target on Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Needham & Company LLC raised their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Raymond James lifted their target price on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Finally, TD Cowen lifted their target price on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.76.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,441 shares of company stock worth $4,624,453. Company insiders own 0.50% of the company’s stock.

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.