Farther Finance Advisors LLC Purchases 1,002 Shares of Boston Scientific Co. (NYSE:BSX)

Farther Finance Advisors LLC boosted its position in Boston Scientific Co. (NYSE:BSX) by 9.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,062 shares of the medical equipment provider’s stock after purchasing an additional 1,002 shares during the quarter. Farther Finance Advisors LLC’s holdings in Boston Scientific were worth $1,221,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in BSX. TFC Financial Management Inc. raised its holdings in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares in the last quarter. Colonial Trust Co SC grew its stake in shares of 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 acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $25,000. Sunbeam Capital Management LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $26,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $31,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction on 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 approximately $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup restated a “buy” rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Morgan Stanley boosted their price target on Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, May 16th. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. Evercore ISI boosted their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $115.00 target price on shares of Boston Scientific in a research report on Wednesday, May 28th. Twenty-one equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $116.00.

Boston Scientific Trading Down 1.0%

Boston Scientific stock opened at $98.43 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12 month low of $71.88 and a 12 month high of $107.17. The stock’s 50 day simple moving average is $100.84 and its two-hundred day simple moving average is $98.62. The firm has a market cap of $145.62 billion, a PE ratio of 78.74, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current 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.