Evelyn Partners Investment Management LLP Raises Stock Holdings in Boston Scientific Corporation $BSX

Evelyn Partners Investment Management LLP raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 168,771 shares of the medical equipment provider’s stock after purchasing an additional 26,883 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Boston Scientific were worth $10,590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSX. Outfitters Financial LLC grew its position in shares of Boston Scientific by 0.5% during the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock worth $2,291,000 after buying an additional 110 shares in the last quarter. Natural Investments LLC increased its position in shares of Boston Scientific by 2.9% in the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 112 shares during the last quarter. Patton Fund Management Inc. raised its stake in shares of Boston Scientific by 5.5% in the 4th quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider’s stock valued at $217,000 after purchasing an additional 118 shares in the last quarter. Bridgewater Advisors Inc. lifted its position in shares of Boston Scientific by 1.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 10,051 shares of the medical equipment provider’s stock worth $921,000 after purchasing an additional 123 shares during the last quarter. Finally, Earned Wealth Advisors LLC grew its stake in Boston Scientific by 5.2% in the fourth quarter. Earned Wealth Advisors LLC now owns 2,647 shares of the medical equipment provider’s stock worth $252,000 after purchasing an additional 131 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, Director Cheryl Pegus acquired 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the acquisition, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David C. Habiger bought 2,250 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 9,800 shares of company stock valued at $554,012. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BSX shares. Robert W. Baird set a $70.00 price objective on Boston Scientific in a research note on Thursday, May 28th. Oppenheimer decreased their target price on Boston Scientific from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. Canaccord Genuity Group reduced their price objective on Boston Scientific from $71.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $88.00 price objective (down from $97.00) on shares of Boston Scientific in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $79.64.

Boston Scientific Trading Up 3.0%

Boston Scientific stock opened at $45.56 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $47.00 and a two-hundred day moving average price of $63.47. The firm has a market capitalization of $67.72 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 0.85 and a beta of 0.58. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50.

Boston Scientific declared that its board has initiated a stock buyback program on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.