Monument Capital Management Takes Position in Boston Scientific Co. (NYSE:BSX)

Monument Capital Management bought a new stake in Boston Scientific Co. (NYSE:BSX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,057 shares of the medical equipment provider’s stock, valued at approximately $209,000.

Several other hedge funds have also recently added to or reduced their stakes in BSX. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth about $28,000. Northwest Investment Counselors LLC bought a new stake in shares of Boston Scientific in the first quarter worth about $31,000. Sachetta LLC bought a new stake in shares of Boston Scientific in the fourth quarter worth about $32,000. Frazier Financial Advisors LLC bought a new position in shares of Boston Scientific during the fourth quarter worth about $32,000. Finally, Jones Financial Companies Lllp grew its holdings in shares of Boston Scientific by 53.0% during the fourth quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 193 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 completion of the transaction, the executive vice president now directly owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The sale 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 Boston Scientific stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now directly 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 ninety days, insiders sold 72,259 shares of company stock valued at $5,344,014. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $76.11 on Thursday. The stock has a market cap of $111.66 billion, a P/E ratio of 63.96, a PEG ratio of 2.65 and a beta of 0.78. The stock has a 50 day simple moving average of $75.16 and a 200 day simple moving average of $67.96. 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 1-year low of $48.35 and a 1-year high of $77.99.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion during 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%. Research analysts anticipate that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI increased their price objective on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday. Mizuho increased their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Argus increased their price objective on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $77.41.

About Boston Scientific

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.