BI Asset Management Fondsmaeglerselskab A S Lowers Stock Holdings in Boston Scientific Corporation $BSX

Key Points

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BI Asset Management Fondsmaeglerselskab A S trimmed its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 222,645 shares of the medical equipment provider's stock after selling 47,462 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Boston Scientific were worth $22,460,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in BSX. GAMMA Investing LLC lifted its holdings in shares of Boston Scientific by 11,720.3% during the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after purchasing an additional 2,556,078 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after purchasing an additional 2,221,790 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Boston Scientific by 18.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,839,362 shares of the medical equipment provider's stock valued at $968,172,000 after purchasing an additional 1,709,461 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.3% during the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after purchasing an additional 1,697,945 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Boston Scientific by 161.9% during the first quarter. Assenagon Asset Management S.A. now owns 2,485,696 shares of the medical equipment provider's stock valued at $250,757,000 after purchasing an additional 1,536,663 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Raymond James Financial boosted their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a report on Thursday, July 24th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Citigroup restated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Finally, Robert W. Baird boosted their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Trading Down 0.1%

Shares of BSX stock opened at $103.06 on Tuesday. Boston Scientific Corporation has a 1 year low of $77.71 and a 1 year high of $108.94. The firm has a fifty day moving average price of $103.62 and a 200-day moving average price of $102.09. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. The company has a market cap of $152.71 billion, a price-to-earnings ratio of 61.35, a PEG ratio of 2.48 and a beta of 0.66.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The company's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, equities analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Yoshiaki Fujimori sold 2,901 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the transaction, the director directly owned 2,081 shares of the company's stock, valued at $222,646.19. This represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 345,029 shares of company stock worth $35,976,603 in the last three months. Corporate insiders own 0.50% of the company's stock.

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.

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