Gateway Investment Advisers LLC Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Gateway Investment Advisers LLC grew its holdings in Boston Scientific Co. (NYSE:BSX) by 0.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 603,863 shares of the medical equipment provider’s stock after buying an additional 3,838 shares during the period. Boston Scientific accounts for about 0.7% of Gateway Investment Advisers LLC’s holdings, making the stock its 29th biggest holding. Gateway Investment Advisers LLC’s holdings in Boston Scientific were worth $60,918,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Elk River Wealth Management LLC acquired a new stake in Boston Scientific during the first quarter worth about $202,000. Procyon Advisors LLC boosted its position in Boston Scientific by 104.4% in the 1st quarter. Procyon Advisors LLC now owns 4,765 shares of the medical equipment provider’s stock valued at $481,000 after buying an additional 2,434 shares during the period. Consilio Wealth Advisors LLC purchased a new stake in Boston Scientific during the 1st quarter worth about $201,000. Generali Investments Management Co LLC grew its holdings in Boston Scientific by 14.4% during the 1st quarter. Generali Investments Management Co LLC now owns 30,912 shares of the medical equipment provider’s stock worth $3,118,000 after acquiring an additional 3,886 shares in the last quarter. Finally, Foster Group Inc. purchased a new stake in Boston Scientific during the 1st quarter worth about $287,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 0.8%

NYSE BSX opened at $102.04 on Friday. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a 50-day moving average of $100.49 and a 200-day moving average of $98.37. The company has a market cap of $150.96 billion, a P/E ratio of 81.63, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. As a group, equities analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the completion of the sale, the executive vice president now owns 178,342 shares of the company’s stock, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the sale, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BSX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Barclays lifted their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Needham & Company LLC restated a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Finally, Evercore ISI raised their price target on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Twenty-one research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $116.00.

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.