Empirical Finance LLC Acquires 1,786 Shares of Boston Scientific Co. (NYSE:BSX)

Empirical Finance LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 3.6% during the first quarter, HoldingsChannel.com reports. The firm owned 51,280 shares of the medical equipment provider’s stock after purchasing an additional 1,786 shares during the period. Empirical Finance LLC’s holdings in Boston Scientific were worth $3,512,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Pinnacle Associates Ltd. lifted its position in shares of Boston Scientific by 2.0% in the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after purchasing an additional 148 shares in the last quarter. Hazlett Burt & Watson Inc. raised its position in Boston Scientific by 24.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock worth $57,000 after acquiring an additional 160 shares in the last quarter. BSW Wealth Partners raised its position in Boston Scientific by 2.3% during the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock worth $428,000 after acquiring an additional 165 shares in the last quarter. Allstate Corp raised its position in Boston Scientific by 2.9% during the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after acquiring an additional 165 shares in the last quarter. Finally, First Affirmative Financial Network raised its position in Boston Scientific by 4.3% during the first quarter. First Affirmative Financial Network now owns 4,028 shares of the medical equipment provider’s stock worth $276,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.0 %

NYSE:BSX traded up $0.80 during mid-day trading on Friday, hitting $77.69. 4,417,163 shares of the company’s stock were exchanged, compared to its average volume of 6,161,327. The company has a 50 day simple moving average of $75.71 and a 200-day simple moving average of $68.80. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $77.99. The firm has a market capitalization of $113.98 billion, a P/E ratio of 64.61, a PEG ratio of 2.65 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. As a group, research analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a research report on Thursday, April 25th. Mizuho increased their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, May 15th. Finally, UBS Group increased their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Three 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.29.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Boston Scientific news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,259 shares of company stock worth $5,344,014. 0.50% of the stock is currently owned by insiders.

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.