Boston Scientific Corporation (NYSE:BSX) Shares Sold by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Boston Scientific Corporation by 19.5%, now owning 422,870 shares valued at $42 million, as indicated by the latest 13F filing with the SEC.
• Boston Scientific's recent earnings report showed EPS of $0.75, surpassing estimates and reflecting a 22.8% year-over-year revenue growth, totaling $5.06 billion for the quarter.
• Several analysts have increased their price targets for Boston Scientific, with Robert W. Baird raising it from $117.00 to $123.00, indicating a generally positive outlook on the stock.

Mediolanum International Funds Ltd lessened its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 19.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 422,870 shares of the medical equipment provider's stock after selling 102,206 shares during the period. Mediolanum International Funds Ltd's holdings in Boston Scientific were worth $42,016,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the last quarter. Capital World Investors raised its position in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after buying an additional 554,388 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Boston Scientific by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock valued at $1,477,307,000 after buying an additional 832,386 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of a number of recent analyst reports. Citigroup restated a "buy" rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Truist Financial boosted their target price 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. Erste Group Bank upgraded shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Two investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $117.50.

Boston Scientific Stock Up 0.1%

Shares of NYSE BSX traded up $0.06 during trading on Wednesday, reaching $106.53. 2,341,248 shares of the stock were exchanged, compared to its average volume of 7,690,638. The business's 50-day moving average price is $103.56 and its 200 day moving average price is $101.69. Boston Scientific Corporation has a twelve month low of $71.88 and a twelve month high of $108.94. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $157.60 billion, a price-to-earnings ratio of 63.38, a price-to-earnings-growth ratio of 2.55 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its 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. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The business had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. As a group, equities analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the sale, the executive vice president directly owned 22,235 shares of the company's stock, valued at $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the sale, the chief executive officer directly owned 1,476,882 shares in the company, valued at $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,144 shares of company stock valued at $47,720,408 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

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.