Sapient Capital LLC Increases Holdings in Boston Scientific Co. (NYSE:BSX)

Sapient Capital LLC lifted its position in Boston Scientific Co. (NYSE:BSX) by 0.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,606 shares of the medical equipment provider’s stock after purchasing an additional 622 shares during the quarter. Sapient Capital LLC’s holdings in Boston Scientific were worth $13,680,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Covenant Asset Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter worth about $3,405,000. Bank Pictet & Cie Europe AG raised its stake in shares of Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after purchasing an additional 21,173 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Boston Scientific by 8.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider’s stock valued at $4,223,000 after buying an additional 3,683 shares during the period. Entropy Technologies LP acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $214,000. Finally, Portfolio Design Labs LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $975,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the transaction, the executive vice president now directly owns 178,342 shares in the company, valued at $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 value of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $99.38 on Thursday. 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 business has a 50 day simple moving average of $100.70 and a 200-day simple moving average of $98.55. The firm has a market capitalization of $147.03 billion, a PE ratio of 79.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results 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. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BSX shares. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Morgan Stanley boosted their price objective on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. BTIG Research reaffirmed a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Twenty-one investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus 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.