Banco Santander S.A. Raises Stock Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Banco Santander S.A. increased its stake in Boston Scientific by 91.9%, acquiring an additional 15,356 shares, bringing its total holdings to 32,059 shares worth approximately $3.23 million.
• Boston Scientific reported a 22.8% year-over-year revenue increase, reaching $5.06 billion for the quarter, and exceeded EPS estimates by $0.03 with reported earnings of $0.75.
• Multiple analysts have a Buy rating on Boston Scientific, with price targets ranging from $115.00 to $133.00, indicating strong confidence in the company's future performance.

Banco Santander S.A. lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 91.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,059 shares of the medical equipment provider's stock after buying an additional 15,356 shares during the period. Banco Santander S.A.'s holdings in Boston Scientific were worth $3,234,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. HM Payson & Co. grew its position in Boston Scientific by 1.4% during the first quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock valued at $694,000 after buying an additional 98 shares during the period. Baldwin Investment Management LLC increased its stake in shares of Boston Scientific by 1.2% in the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after purchasing an additional 102 shares in the last quarter. Park Square Financial Group LLC raised its holdings in Boston Scientific by 5.2% in the 1st quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock worth $208,000 after purchasing an additional 103 shares during the period. HHM Wealth Advisors LLC lifted its position in Boston Scientific by 13.2% during the first quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock valued at $89,000 after purchasing an additional 103 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BSX. UBS Group raised their price objective on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Robert W. Baird boosted their price target on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Truist Financial increased their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Morgan Stanley lifted their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $117.50.

Insider Activity at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $104.63, for a total transaction of $5,231,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares of the company's stock, valued at approximately $18,659,923.46. The trade was a 21.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 approximately $222,646.19. This trade represents a 58.23% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is owned by company insiders.

Boston Scientific Trading Down 1.8%

Shares of NYSE BSX traded down $1.91 during mid-day trading on Wednesday, reaching $102.92. 9,105,028 shares of the company's stock were exchanged, compared to its average volume of 7,561,011. The firm has a market capitalization of $152.50 billion, a price-to-earnings ratio of 61.26, a PEG ratio of 2.52 and a beta of 0.66. Boston Scientific Corporation has a 52-week low of $73.61 and a 52-week high of $108.94. The company's 50-day moving average is $103.65 and its 200-day moving average is $102.00. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 1.37.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The firm's revenue was up 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Analysts expect that Boston Scientific Corporation will post 2.85 EPS for the current fiscal 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.