Miracle Mile Advisors LLC Acquires 185 Shares of Boston Scientific Co. (NYSE:BSX)

Miracle Mile Advisors LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 3.9% in the first quarter, Holdings Channel reports. The fund owned 4,984 shares of the medical equipment provider’s stock after purchasing an additional 185 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Boston Scientific were worth $341,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Breakwater Capital Group increased its holdings in shares of Boston Scientific by 4.3% during the first quarter. Breakwater Capital Group now owns 7,289 shares of the medical equipment provider’s stock worth $499,000 after buying an additional 303 shares in the last quarter. New Mexico Educational Retirement Board grew its position in Boston Scientific by 10.8% during the 1st quarter. New Mexico Educational Retirement Board now owns 82,862 shares of the medical equipment provider’s stock worth $5,675,000 after acquiring an additional 8,100 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Boston Scientific by 15.8% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 77,216 shares of the medical equipment provider’s stock worth $5,289,000 after purchasing an additional 10,532 shares in the last quarter. AMF Tjanstepension AB raised its position in Boston Scientific by 2.2% in the first quarter. AMF Tjanstepension AB now owns 854,223 shares of the medical equipment provider’s stock valued at $58,506,000 after purchasing an additional 18,320 shares during the last quarter. Finally, Courier Capital LLC boosted its stake in shares of Boston Scientific by 22.5% during the first quarter. Courier Capital LLC now owns 11,399 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 2,096 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $75.33, for a total transaction of $526,029.39. Following the completion of the sale, the executive vice president now directly owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,276 shares of company stock worth $4,804,228. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Down 0.8 %

Shares of NYSE:BSX opened at $76.41 on Tuesday. The business’s 50 day moving average is $74.84 and its 200 day moving average is $67.67. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $77.99. The stock has a market cap of $112.10 billion, a price-to-earnings ratio of 64.21, a PEG ratio of 2.65 and a beta of 0.78. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Raymond James lifted their price target on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 25th. UBS Group increased their price objective on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Evercore ISI lifted their target price on Boston Scientific from $72.00 to $78.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Finally, Robert W. Baird increased their price target on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $77.27.

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.