Frank Rimerman Advisors LLC Acquires 521 Shares of Boston Scientific Corporation (NYSE:BSX)

Frank Rimerman Advisors LLC lifted its holdings in Boston Scientific Corporation (NYSE:BSX) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,092 shares of the medical equipment provider’s stock after buying an additional 521 shares during the period. Frank Rimerman Advisors LLC’s holdings in Boston Scientific were worth $2,128,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. NS Partners Ltd boosted its stake in shares of Boston Scientific by 1.6% during the 1st quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock worth $37,143,000 after purchasing an additional 5,704 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of Boston Scientific by 40.8% during the 4th 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 period. Oppenheimer & Co. Inc. boosted its stake in shares of Boston Scientific by 18.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider’s stock worth $3,987,000 after purchasing an additional 6,264 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Boston Scientific during the 1st quarter worth about $8,234,000. Finally, Blue Trust Inc. boosted its stake in shares of Boston Scientific by 13.0% during the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock worth $504,000 after purchasing an additional 575 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of BSX opened at $103.22 on Friday. The company has a 50 day moving average price of $103.54 and a 200-day moving average price of $102.05. Boston Scientific Corporation has a fifty-two week low of $75.00 and a fifty-two week high of $108.94. The stock has a market capitalization of $152.95 billion, a PE ratio of 61.44, a PEG ratio of 2.48 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 1.37.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company’s revenue was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 EPS. Equities analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Robert W. Baird lifted their price target on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wells Fargo & Company upped their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Barclays upped their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Finally, Erste Group Bank upgraded shares of Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $117.50.

Insider Activity

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business’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 transaction, the executive vice president owned 178,342 shares in the company, valued at $18,347,824.96. The trade was a 24.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the transaction, the director owned 18,479 shares of the company’s stock, valued at approximately $1,959,328.37. This trade represents a 17.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 345,029 shares of company stock worth $35,976,603 over the last 90 days. 0.50% of the stock is currently owned by insiders.

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.