Dynamic Advisor Solutions LLC Increases Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

Dynamic Advisor Solutions LLC raised its holdings in Boston Scientific Corporation (NYSE:BSX) by 8.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,163 shares of the medical equipment provider’s stock after buying an additional 388 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Boston Scientific were worth $521,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSX. CRA Financial Services LLC raised its position in shares of Boston Scientific by 18.5% in the 1st quarter. CRA Financial Services LLC now owns 3,491 shares of the medical equipment provider’s stock valued at $352,000 after purchasing an additional 545 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in Boston Scientific during the 1st quarter worth approximately $150,000. Robbins Farley acquired a new position in Boston Scientific during the 1st quarter valued at approximately $3,741,000. Southland Equity Partners LLC purchased a new position in shares of Boston Scientific in the first quarter worth $220,000. Finally, Tritonpoint Wealth LLC lifted its stake in shares of Boston Scientific by 9.3% during the first quarter. Tritonpoint Wealth LLC now owns 3,324 shares of the medical equipment provider’s stock worth $335,000 after buying an additional 284 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. BTIG Research reissued a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Citigroup reissued a “buy” rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Leerink Partnrs upgraded Boston Scientific to a “strong-buy” rating in a research report on Monday. Finally, Evercore ISI raised their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $116.09.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now directly owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $101.36 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.17. The business’s 50 day moving average is $101.44 and its two-hundred day moving average is $98.91. The company has a market capitalization of $149.96 billion, a P/E ratio of 73.99, a P/E/G ratio of 2.63 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 EPS. Analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.