Fifth Third Bancorp Purchases 42,933 Shares of Boston Scientific Co. (NYSE:BSX)

Fifth Third Bancorp grew its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 18.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 271,489 shares of the medical equipment provider's stock after purchasing an additional 42,933 shares during the quarter. Fifth Third Bancorp's holdings in Boston Scientific were worth $27,388,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific during the fourth quarter valued at $3,405,000. Bank Pictet & Cie Europe AG lifted its stake in shares of Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after acquiring an additional 21,173 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of Boston Scientific by 8.4% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider's stock valued at $4,223,000 after acquiring an additional 3,683 shares during the period. Entropy Technologies LP acquired a new position in shares of Boston Scientific during the fourth quarter valued at $214,000. Finally, Illinois Municipal Retirement Fund lifted its stake in shares of Boston Scientific by 13.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider's stock valued at $16,507,000 after acquiring an additional 22,504 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on BSX shares. BTIG Research reiterated a "buy" rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Barclays upped their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. Evercore ISI upped 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. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Twenty-one research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and a consensus price target of $116.00.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock valued at $42,406,693 in the last three months. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 1.1%

BSX stock traded up $1.04 during mid-day trading on Friday, reaching $99.60. The company had a trading volume of 10,330,779 shares, compared to its average volume of 6,562,299. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a 50 day simple moving average of $101.03 and a two-hundred day simple moving average of $98.68. The company has a market capitalization of $147.35 billion, a price-to-earnings ratio of 79.68, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business's revenue was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $0.56 earnings per share. As a group, equities analysts predict that Boston Scientific Co. will post 2.85 earnings per share 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.