Chicago Partners Investment Group LLC Invests $317,000 in Boston Scientific Corporation (NYSE:BSX)

Chicago Partners Investment Group LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 3,021 shares of the medical equipment provider’s stock, valued at approximately $317,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in Boston Scientific in the 4th quarter valued at about $25,000. Colonial Trust Co SC increased its stake in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 260 shares during the period. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific during the fourth quarter worth about $26,000. Ameriflex Group Inc. purchased a new stake in Boston Scientific during the fourth quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Boston Scientific during the fourth quarter worth about $36,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $5,231,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at approximately $18,659,923.46. The trade was a 21.90% decrease in their ownership of the stock. The sale 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 that occurred on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares of the company’s stock, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 345,029 shares of company stock valued at $35,976,603 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $102.77 on Tuesday. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a twelve month low of $75.44 and a twelve month high of $108.94. The stock has a 50 day moving average of $103.52 and a two-hundred day moving average of $102.07. The stock has a market cap of $152.27 billion, a P/E ratio of 61.17, a P/E/G ratio of 2.48 and a beta of 0.66.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis. On average, research analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BSX shares. Jefferies Financial Group reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, July 21st. Citigroup reiterated a “buy” rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Barclays boosted their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Finally, Truist Financial boosted their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of “Buy” and an average target price of $117.50.

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.