Salem Investment Counselors Inc. Increases Holdings in Boston Scientific Co. (NYSE:BSX)

Salem Investment Counselors Inc. grew its holdings in shares of Boston Scientific Co. (NYSE:BSXFree Report) by 12.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211,218 shares of the medical equipment provider’s stock after buying an additional 23,324 shares during the period. Salem Investment Counselors Inc.’s holdings in Boston Scientific were worth $14,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position in Boston Scientific by 5.9% in the 1st quarter. International Assets Investment Management LLC now owns 22,457 shares of the medical equipment provider’s stock valued at $1,538,000 after acquiring an additional 1,248 shares during the period. &PARTNERS purchased a new position in shares of Boston Scientific during the 1st quarter worth $344,000. Running Oak Capital LLC lifted its stake in shares of Boston Scientific by 8.9% during the 1st quarter. Running Oak Capital LLC now owns 167,509 shares of the medical equipment provider’s stock worth $11,473,000 after purchasing an additional 13,634 shares during the period. Congress Asset Management Co. MA lifted its stake in shares of Boston Scientific by 2.1% during the 1st quarter. Congress Asset Management Co. MA now owns 1,509,479 shares of the medical equipment provider’s stock worth $103,384,000 after purchasing an additional 31,615 shares during the period. Finally, Gulf International Bank UK Ltd lifted its stake in shares of Boston Scientific by 0.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 167,650 shares of the medical equipment provider’s stock worth $11,482,000 after purchasing an additional 454 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price target on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Royal Bank of Canada increased their target price on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Sunday, June 16th. Citigroup increased their price target on Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a report on Wednesday, May 22nd. Finally, Robert W. Baird raised their target price 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 analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.70.

View Our Latest Stock Analysis on BSX

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on 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 transaction, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on 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 transaction, the executive vice president now owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. Insiders have sold 81,627 shares of company stock worth $5,937,353 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

Shares of BSX traded up $0.71 during mid-day trading on Friday, reaching $77.71. 9,938,194 shares of the company’s stock traded hands, compared to its average volume of 4,647,806. The business’s 50-day moving average price is $73.90 and its 200-day moving average price is $66.83. The stock has a market capitalization of $114.01 billion, a P/E ratio of 65.30, a price-to-earnings-growth ratio of 2.72 and a beta of 0.81. 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 12 month low of $48.35 and a 12 month high of $77.81.

Boston Scientific (NYSE:BSXGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. Equities analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Boston Scientific Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSXFree Report).

Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.