China Universal Asset Management Co. Ltd. Increases Holdings in Boston Scientific Corporation (NYSE:BSX)

China Universal Asset Management Co. Ltd. raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,437 shares of the medical equipment provider's stock after buying an additional 5,294 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Boston Scientific were worth $1,860,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after purchasing an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after purchasing an additional 21,173 shares in the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after purchasing an additional 1,439 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Boston Scientific by 40.2% in the 4th quarter. Proficio Capital Partners LLC now owns 5,333 shares of the medical equipment provider's stock worth $476,000 after purchasing an additional 1,528 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its holdings in shares of Boston Scientific by 2.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 5,945 shares of the medical equipment provider's stock worth $531,000 after purchasing an additional 136 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Citigroup restated a "buy" rating and set a $125.00 target price (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Needham & Company LLC restated a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Barclays increased their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Twenty-two investment analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $116.09.

Insider Buying and Selling

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the firm's 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 transaction, the executive vice president owned 178,342 shares in the company, valued at $18,347,824.96. This trade represents a 24.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the transaction, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 461,970 shares of company stock worth $47,755,193 over the last quarter. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.7%

Shares of BSX traded down $0.70 on Friday, reaching $103.16. The stock had a trading volume of 5,890,147 shares, compared to its average volume of 6,701,002. The firm has a market capitalization of $152.62 billion, a price-to-earnings ratio of 75.30, a price-to-earnings-growth ratio of 2.70 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. The company has a 50-day simple moving average of $103.42 and a 200-day simple moving average of $100.53. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 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 18.67% and a net margin of 11.58%. The firm's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. Sell-side analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current 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.