First Affirmative Financial Network Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

First Affirmative Financial Network grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,028 shares of the medical equipment provider’s stock after purchasing an additional 166 shares during the quarter. First Affirmative Financial Network’s holdings in Boston Scientific were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Boston Scientific by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after acquiring an additional 1,681,454 shares during the period. Wellington Management Group LLP boosted its position in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after acquiring an additional 2,336,348 shares during the last quarter. Primecap Management Co. CA lifted its position in Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares during the last quarter. Morgan Stanley lifted its position in Boston Scientific by 2.3% in the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after buying an additional 481,891 shares during the last quarter. Finally, Norges Bank bought a new stake in Boston Scientific in the fourth quarter worth $930,626,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $77.71 on Friday. The stock has a fifty day moving average price of $73.90 and a two-hundred day moving average price of $66.83. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The firm has a market cap of $114.01 billion, a P/E ratio of 65.30, a PEG ratio of 2.72 and a beta of 0.81. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $77.81.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BSX. Argus lifted their target price on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Citigroup lifted their target price on Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Robert W. Baird lifted their target price on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Wells Fargo & Company lifted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Boston Scientific from $63.00 to $73.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $76.70.

Insider Activity

In other news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Charles J. Dockendorff sold 3,946 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,627 shares of company stock worth $5,937,353. Insiders own 0.50% of the company’s stock.

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.