Boston Scientific Corporation (NYSE:BSX) Shares Bought by AIA Group Ltd

Key Points

• AIA Group Ltd increased its stake in Boston Scientific Corporation by 14.3%, acquiring an additional 13,772 shares, bringing its total holdings to 110,084 shares valued at approximately $11.1 million.
• Boston Scientific reported earnings of $0.75 per share for the most recent quarter, exceeding analyst expectations and achieving a 22.8% year-over-year revenue growth to $5.06 billion.
• Several analysts have raised their price targets on Boston Scientific stock, with Oppenheimer increasing its target from $110.00 to $118.00, reflecting strong market sentiment towards the company.

AIA Group Ltd increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 14.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,084 shares of the medical equipment provider's stock after purchasing an additional 13,772 shares during the quarter. AIA Group Ltd's holdings in Boston Scientific were worth $11,105,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BSX. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Boston Scientific during the 4th quarter valued at approximately $25,000. Sunbeam Capital Management LLC purchased a new position in Boston Scientific during the 4th quarter valued at approximately $26,000. Y.D. More Investments Ltd bought a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $27,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the completion of the transaction, the director owned 18,479 shares in the company, valued at $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 345,029 shares of company stock worth $35,976,603. Insiders own 0.50% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on BSX. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. Oppenheimer raised their price objective on Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Robert W. Baird raised their price objective on Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Morgan Stanley raised their price objective on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $117.50.

Boston Scientific Stock Up 1.6%

Shares of NYSE:BSX traded up $1.65 on Thursday, reaching $104.15. The company had a trading volume of 7,246,069 shares, compared to its average volume of 7,600,649. Boston Scientific Corporation has a 52-week low of $76.60 and a 52-week high of $108.94. The firm's 50 day simple moving average is $103.51 and its 200-day simple moving average is $102.08. The firm has a market capitalization of $154.32 billion, a PE ratio of 61.99, a PEG ratio of 2.47 and a beta of 0.66. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business posted $0.62 EPS. The business's revenue was up 22.8% compared to the same quarter last year. As a group, analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

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.