Principal Financial Group Inc. Trims Stock Position in Boston Scientific Corporation (NYSE:BSX)

Principal Financial Group Inc. decreased its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,886,837 shares of the medical equipment provider's stock after selling 106,607 shares during the period. Principal Financial Group Inc. owned 0.13% of Boston Scientific worth $190,344,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its holdings in Boston Scientific by 40.8% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock worth $6,529,000 after buying an additional 21,173 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of Boston Scientific by 18.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock valued at $3,987,000 after acquiring an additional 6,264 shares during the period. Blue Trust Inc. grew its position in Boston Scientific by 13.0% during the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 575 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Boston Scientific by 109.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider's stock worth $24,126,000 after purchasing an additional 141,398 shares during the period. Finally, Little House Capital LLC acquired a new stake in Boston Scientific during the 1st quarter worth about $945,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Performance

BSX traded up $0.67 on Friday, reaching $104.30. The company had a trading volume of 2,931,148 shares, compared to its average volume of 6,666,246. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $107.53. The stock has a market capitalization of $154.30 billion, a PE ratio of 76.13, a P/E/G ratio of 2.71 and a beta of 0.68. 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 stock has a 50-day moving average price of $103.42 and a 200-day moving average price of $100.14.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Boston Scientific's quarterly revenue was up 20.9% compared to the same quarter last year. As a group, research analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president directly owned 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the transaction, the executive vice president owned 178,342 shares in the company, valued at $19,077,243.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 461,970 shares of company stock valued at $47,755,193 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Evercore ISI raised their target price on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Leerink Partnrs raised shares of Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Needham & Company LLC reissued a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Truist Financial raised their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Robert W. Baird raised their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $116.09.

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.