GAMMA Investing LLC Buys 2,144 Shares of Boston Scientific Co. (NYSE:BSX)

GAMMA Investing LLC grew its stake in Boston Scientific Co. (NYSE:BSX) by 28.7% in the first quarter, HoldingsChannel.com reports. The fund owned 9,606 shares of the medical equipment provider’s stock after acquiring an additional 2,144 shares during the period. GAMMA Investing LLC’s holdings in Boston Scientific were worth $658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter worth approximately $28,000. Frazier Financial Advisors LLC acquired a new position in Boston Scientific during the 4th quarter worth approximately $32,000. Sachetta LLC acquired a new position in Boston Scientific during the 4th quarter worth approximately $32,000. Jones Financial Companies Lllp boosted its position in Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 193 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 215 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BSX. The Goldman Sachs Group began coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. JPMorgan Chase & Co. upped their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Mizuho upped their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, Evercore ISI increased their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.70.

Boston Scientific Stock Up 0.2 %

Shares of NYSE BSX opened at $76.31 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $77.64. The stock has a market capitalization of $111.95 billion, a P/E ratio of 64.13, a PEG ratio of 2.63 and a beta of 0.81. The stock’s fifty day moving average is $73.55 and its 200 day moving average is $66.51.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Sell-side analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 81,627 shares of company stock worth $5,937,353. Corporate insiders own 0.50% of the company’s stock.

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.