Boston Scientific Co. (NYSE:BSX) Stock Position Lifted by UMB Bank n.a.

UMB Bank n.a. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 76.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,075 shares of the medical equipment provider’s stock after purchasing an additional 31,276 shares during the period. UMB Bank n.a.’s holdings in Boston Scientific were worth $7,271,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSX. Brighton Jones LLC grew its position in Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after purchasing an additional 226 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Boston Scientific during the fourth quarter valued at approximately $33,074,000. Golden State Wealth Management LLC purchased a new position in Boston Scientific during the fourth quarter valued at approximately $109,000. Apollon Wealth Management LLC grew its position in Boston Scientific by 9.7% during the fourth quarter. Apollon Wealth Management LLC now owns 20,355 shares of the medical equipment provider’s stock valued at $1,818,000 after purchasing an additional 1,793 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in Boston Scientific by 9.9% during the fourth quarter. Kingsview Wealth Management LLC now owns 6,563 shares of the medical equipment provider’s stock valued at $586,000 after purchasing an additional 593 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now owns 18,705 shares of the company’s stock, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 411,970 shares of company stock worth $42,406,693 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BSX has been the subject of a number of analyst reports. Robert W. Baird lifted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, April 29th. Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Evercore ISI lifted their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $116.00.

Boston Scientific Price Performance

NYSE:BSX opened at $102.04 on Monday. The stock has a market cap of $150.96 billion, a P/E ratio of 81.63, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17. The company has a fifty day moving average price of $100.49 and a 200 day moving average price of $98.47. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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

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.