Boston Scientific Corporation $BSX Stock Bought by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. increased its Boston Scientific stake by 227% in the third quarter, adding 192,000 shares to hold 276,600 shares valued at about $12.1 million. Institutional investors collectively own 89.07% of the stock.
• Boston Scientific reported quarterly EPS of $0.73, matching analyst estimates, while revenue of $5.14 billion topped forecasts and rose 1.4% year over year.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $61.43. Shares opened at $45.73, and the article reported a 5.1% rise.

Factory Mutual Insurance Co. increased its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 227.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 276,600 shares of the medical equipment provider's stock after buying an additional 192,000 shares during the quarter. Factory Mutual Insurance Co.'s holdings in Boston Scientific were worth $12,074,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BSX. BlackRock Inc. bought a new stake in shares of Boston Scientific in the 2nd quarter worth $5,534,781,000. Primecap Management Co. CA bought a new position in shares of Boston Scientific during the second quarter valued at about $2,156,233,000. Janus Henderson Group PLC lifted its position in shares of Boston Scientific by 31.0% during the first quarter. Janus Henderson Group PLC now owns 16,497,366 shares of the medical equipment provider's stock valued at $1,035,202,000 after purchasing an additional 3,907,981 shares in the last quarter. Amundi boosted its holdings in Boston Scientific by 13.8% during the first quarter. Amundi now owns 14,122,913 shares of the medical equipment provider's stock worth $886,213,000 after purchasing an additional 1,707,754 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Boston Scientific by 25.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 13,891,668 shares of the medical equipment provider's stock worth $871,702,000 after purchasing an additional 2,856,040 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 5.1%

Boston Scientific stock opened at $45.73 on Thursday. The firm has a 50 day moving average price of $44.47 and a 200-day moving average price of $56.16. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a twelve month low of $39.57 and a twelve month high of $105.65. The company has a market capitalization of $66.28 billion, a P/E ratio of 19.38, a P/E/G ratio of 1.27 and a beta of 0.60.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, hitting analysts' consensus estimates of $0.73. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. The company had revenue of $5.14 billion for the quarter, compared to analysts' expectations of $5.09 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. Boston Scientific's revenue was up 1.4% on a year-over-year basis. As a group, equities analysts predict that Boston Scientific Corporation will post 3.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BSX shares. Robert W. Baird upped their price objective on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an "outperform" rating in a research report on Thursday, October 29th. Sanford C. Bernstein dropped their target price on shares of Boston Scientific from $54.00 to $49.00 and set an "outperform" rating on the stock in a research report on Thursday, October 29th. Deutsche Bank Aktiengesellschaft set a $48.00 target price on Boston Scientific and gave the stock a "buy" rating in a research note on Thursday, October 29th. Canaccord Genuity Group reduced their target price on Boston Scientific from $66.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, October 29th. Finally, Leerink Partners decreased their price target on Boston Scientific from $55.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $61.43.

Boston Scientific Company Profile

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.

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