AustralianSuper Pty Ltd Acquires 235,322 Shares of Boston Scientific Corporation (NYSE:BSX)

AustralianSuper Pty Ltd lifted its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 9.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,821,597 shares of the medical equipment provider's stock after acquiring an additional 235,322 shares during the quarter. Boston Scientific accounts for approximately 1.6% of AustralianSuper Pty Ltd's investment portfolio, making the stock its 11th largest holding. AustralianSuper Pty Ltd owned approximately 0.19% of Boston Scientific worth $284,643,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Colonial Trust Co SC boosted its holdings in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 260 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $25,000. Sunbeam Capital Management LLC acquired a new position in Boston Scientific in the 4th quarter valued at $26,000. Ameriflex Group Inc. acquired a new position in Boston Scientific in the 4th quarter valued at $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth $36,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the sale, the executive vice president directly owned 178,342 shares in the company, valued at $19,077,243.74. The trade was a 21.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 461,970 shares of company stock valued at $47,755,193. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Stock Performance

BSX traded down $0.97 during trading hours on Friday, hitting $103.68. The company's stock had a trading volume of 8,571,099 shares, compared to its average volume of 6,759,201. The company has a 50-day simple moving average of $103.42 and a 200 day simple moving average of $100.99. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $153.39 billion, a PE ratio of 75.68, a PEG ratio of 2.72 and a beta of 0.68. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company posted $0.56 EPS. The company's revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on BSX. Needham & Company LLC reiterated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Leerink Partners began coverage on Boston Scientific in a research report on Monday, June 16th. They set an "outperform" rating and a $118.00 target price on the stock. Royal Bank Of Canada lifted their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Robert W. Baird boosted their target price on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Barclays lifted their price target on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Twenty-two investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $116.09.

Boston Scientific 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.

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Corporation (NYSE:BSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.