Boston Scientific Corporation (NYSE:BSX) Stake Trimmed by KBC Group NV

KBC Group NV trimmed its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,243,113 shares of the medical equipment provider's stock after selling 137,408 shares during the period. Boston Scientific comprises about 0.7% of KBC Group NV's portfolio, making the stock its 22nd biggest position. KBC Group NV owned 0.15% of Boston Scientific worth $226,285,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BSX. Brighton Jones LLC boosted its holdings in Boston Scientific by 0.8% in the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after purchasing an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Boston Scientific by 40.8% in the fourth 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 in the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock valued at $2,189,000 after acquiring an additional 1,439 shares during the period. Whipplewood Advisors LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $94,000. Finally, Kovack Advisors Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $334,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Needham & Company LLC restated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Leerink Partners initiated coverage on Boston Scientific in a research report on Monday, June 16th. They issued an "outperform" rating and a $118.00 price objective for the company. Evercore ISI increased their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Finally, Citigroup reiterated a "buy" rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Twenty-two research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific currently has an average rating of "Buy" and an average price target of $116.09.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total value of $17,051,094.67. Following the transaction, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 411,970 shares of company stock worth $42,406,693 over the last ninety days. Company insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 1.8%

BSX stock traded down $1.89 during midday trading on Tuesday, hitting $105.52. 4,624,976 shares of the company's stock were exchanged, compared to its average volume of 6,617,816. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.57. The firm has a 50 day moving average price of $103.02 and a 200-day moving average price of $99.80. The stock has a market capitalization of $156.11 billion, a price-to-earnings ratio of 77.04, a price-to-earnings-growth ratio of 2.75 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the business earned $0.56 EPS. Boston Scientific's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, analysts anticipate 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.