First Trust Direct Indexing L.P. Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

First Trust Direct Indexing L.P. grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 9.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,506 shares of the medical equipment provider’s stock after buying an additional 3,482 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Boston Scientific were worth $2,637,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in Boston Scientific by 14.6% in the third quarter. AQR Capital Management LLC now owns 537,152 shares of the medical equipment provider’s stock worth $28,362,000 after purchasing an additional 68,478 shares during the last quarter. Truist Financial Corp boosted its holdings in Boston Scientific by 23.0% in the third quarter. Truist Financial Corp now owns 263,479 shares of the medical equipment provider’s stock worth $13,912,000 after purchasing an additional 49,323 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in Boston Scientific by 12.1% in the third quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares during the last quarter. Axxcess Wealth Management LLC bought a new position in Boston Scientific in the third quarter worth approximately $201,000. Finally, Lido Advisors LLC raised its position in Boston Scientific by 38.2% in the third quarter. Lido Advisors LLC now owns 13,266 shares of the medical equipment provider’s stock worth $700,000 after acquiring an additional 3,669 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated 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 directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Arthur C. Butcher sold 14,011 shares of Boston Scientific stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at $3,316,788.40. 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. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on BSX. Barclays increased their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Citigroup increased their price target on shares of Boston Scientific from $85.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Mizuho raised 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. Raymond James raised their price objective on shares of Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $82.00 price objective on shares of Boston Scientific in a research report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.41.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $76.11 on Friday. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $77.99. The company has a market cap of $111.66 billion, a P/E ratio of 63.96, a P/E/G ratio of 2.62 and a beta of 0.78. The firm’s fifty day moving average is $75.28 and its two-hundred day moving average is $68.07. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.68 billion. As a group, analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

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.