ASR Vermogensbeheer N.V. Invests $45.62 Million in Boston Scientific Corporation (NYSE:BSX)

Key Points

• ASR Vermogensbeheer N.V. invested approximately $45.62 million in Boston Scientific Corporation (NYSE: BSX), acquiring 452,277 shares, which now represent 0.7% of its portfolio.
• Insider selling included EVP Arthur C. Butcher, who sold 17,313 shares for around $1.81 million, reducing his position by 42.32%.
• Boston Scientific reported a 22.8% increase in quarterly revenue year-over-year, reaching $5.06 billion, and surpassed analysts' earnings expectations with $0.75 EPS.

ASR Vermogensbeheer N.V. acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 452,277 shares of the medical equipment provider's stock, valued at approximately $45,624,000. Boston Scientific comprises approximately 0.7% of ASR Vermogensbeheer N.V.'s portfolio, making the stock its 28th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Investment Management Corp VA ADV bought a new stake in Boston Scientific in the fourth quarter worth approximately $25,000. Colonial Trust Co SC increased its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares in the last quarter. Sunbeam Capital Management LLC bought a new stake in Boston Scientific in the fourth quarter worth approximately $26,000. Ameriflex Group Inc. bought a new stake in Boston Scientific in the fourth quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Boston Scientific in the fourth quarter worth approximately $36,000. 89.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the completion of the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. This represents a 42.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the sale, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $18,347,824.96. This trade represents a 24.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,029 shares of company stock worth $35,976,603. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $104.71 on Wednesday. The firm has a market capitalization of $155.15 billion, a P/E ratio of 62.33, a P/E/G ratio of 2.57 and a beta of 0.66. The company has a quick ratio of 0.88, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock's 50-day simple moving average is $103.65 and its two-hundred day simple moving average is $102.00. Boston Scientific Corporation has a twelve month low of $73.02 and a twelve month high of $108.94.

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on Boston Scientific from $118.00 to $124.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of Boston Scientific in a report on Thursday, July 24th. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. BTIG Research reaffirmed a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Citigroup reaffirmed a "buy" rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $117.50.

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.

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