ING Groep NV Raises Stock Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• ING Groep NV increased its stake in Boston Scientific by 12.1%, acquiring a total of 210,992 shares valued at approximately $21.3 million.
• Boston Scientific's stock recently traded at $105.40, with a market capitalization of $155.93 billion and a 52-week revenue increase of 22.8%.
• Analysts maintain a consensus buy rating for Boston Scientific, with a target price range between $115.00 and $133.00 from various firms.

ING Groep NV lifted its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 12.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,992 shares of the medical equipment provider's stock after purchasing an additional 22,753 shares during the period. ING Groep NV's holdings in Boston Scientific were worth $21,285,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock worth $2,445,000 after acquiring an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the last quarter. Highview Capital Management LLC DE lifted its holdings in Boston Scientific by 6.2% during 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 during the last quarter. World Investment Advisors boosted its stake in shares of Boston Scientific by 13.1% in the fourth quarter. World Investment Advisors now owns 13,215 shares of the medical equipment provider's stock valued at $1,180,000 after buying an additional 1,531 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $308,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Stock Performance

NYSE BSX traded up $0.23 during trading hours on Friday, reaching $103.19. 2,912,439 shares of the company were exchanged, compared to its average volume of 7,628,841. The stock has a market capitalization of $152.90 billion, a P/E ratio of 61.42, a P/E/G ratio of 2.48 and a beta of 0.66. The company has a quick ratio of 0.88, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Boston Scientific Corporation has a 1 year low of $75.00 and a 1 year high of $108.94. The business's 50 day simple moving average is $103.58 and its 200-day simple moving average is $102.04.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. Boston Scientific's revenue for the quarter was up 22.8% on a year-over-year basis. On average, equities research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 178,342 shares in the company, valued at $18,347,824.96. This represents a 24.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the completion of the sale, the director directly owned 2,081 shares in the company, valued at $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 345,029 shares of company stock worth $35,976,603. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on BSX. UBS Group upped their target price on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a report on Monday, July 21st. Raymond James Financial upped their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the company a "strong-buy" rating in a report on Thursday, July 24th. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Boston Scientific currently has an average rating of "Buy" and a consensus price target of $117.50.

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.