Raiffeisen Bank International AG Acquires 4,068 Shares of Boston Scientific Corporation (NYSE:BSX)

Key Points

• Raiffeisen Bank International AG increased its stake in Boston Scientific by 4.6%, owning 92,564 shares worth approximately $9.2 million at the end of the last quarter.
• Institutional investors currently hold 89.07% of Boston Scientific's stock, with multiple firms, including Capital World Investors and Invesco, significantly increasing their positions in the fourth quarter.
• Boston Scientific's recent earnings report showed earnings per share (EPS) of $0.75, exceeding estimates, with a revenue increase of 22.8% year-over-year.

Raiffeisen Bank International AG boosted its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,564 shares of the medical equipment provider's stock after buying an additional 4,068 shares during the quarter. Raiffeisen Bank International AG's holdings in Boston Scientific were worth $9,197,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $25,000. Colonial Trust Co SC boosted its stake in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares in the last quarter. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific during the fourth quarter worth $26,000. Ameriflex Group Inc. bought a new stake in Boston Scientific in the 4th quarter valued at $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Leerink Partnrs upgraded shares of Boston Scientific to a "strong-buy" rating in a research report on Monday, June 16th. Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Citigroup reaffirmed a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Finally, Oppenheimer upped their price objective on shares of Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Buy" and an average target price of $117.50.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $5,231,500.00. Following the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at $18,659,923.46. This represents a 21.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. This represents a 17.79% 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 ninety days. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.23 on Friday, hitting $103.19. The company's stock had a trading volume of 2,912,439 shares, compared to its average volume of 7,628,841. Boston Scientific Corporation has a one year low of $75.00 and a one year high of $108.94. The firm has a market capitalization of $152.90 billion, a P/E ratio of 61.42, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The stock has a fifty day moving average of $103.58 and a two-hundred day moving average of $102.04. The company has a current ratio of 1.37, a quick ratio of 0.88 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $4.89 billion. During the same quarter in the prior year, the business earned $0.62 EPS. The firm's revenue for the quarter was up 22.8% on a year-over-year basis. Research analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

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.