23,351 Shares in Boston Scientific Corporation (NYSE:BSX) Purchased by Donoghue Forlines LLC

Key Points

• Donoghue Forlines LLC acquired a new stake in Boston Scientific by purchasing 23,351 shares, valued at approximately $2.36 million, making it the firm's 24th largest investment.
• Boston Scientific's recent quarterly earnings reported an EPS of $0.75, exceeding analyst estimates, with revenues of $5.06 billion, reflecting a 22.8% year-over-year increase.
• Major institutional investors have increased their stakes in Boston Scientific significantly, with holdings now controlled by hedge funds and other institutions reaching 89.07% of the stock.

Donoghue Forlines LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,351 shares of the medical equipment provider's stock, valued at approximately $2,356,000. Boston Scientific comprises 0.7% of Donoghue Forlines LLC's portfolio, making the stock its 24th biggest position.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after acquiring an additional 1,697,945 shares during the last quarter. Capital World Investors increased its holdings in shares of Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after acquiring an additional 6,216,199 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Boston Scientific by 2.5% in the 4th 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 acquiring an additional 554,388 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Boston Scientific by 18.0% in the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after acquiring an additional 2,221,790 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Boston Scientific by 10.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 14,143,332 shares of the medical equipment provider's stock valued at $1,426,779,000 after acquiring an additional 1,383,524 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on BSX shares. Citigroup restated a "buy" rating and set a $125.00 price target (up previously from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. 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. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research report on Thursday, July 24th. Morgan Stanley increased their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Finally, Barclays increased their price objective on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $117.50.

Insider Buying and Selling

In other news, Director Edward J. Ludwig sold 4,000 shares of the firm's stock in a transaction dated 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 directly owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. This trade represents a 17.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Yoshiaki Fujimori sold 2,901 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total value 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 represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 345,029 shares of company stock valued at $35,976,603 in the last quarter. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 0.4%

Boston Scientific stock traded down $0.38 during mid-day trading on Monday, hitting $102.77. 4,166,126 shares of the company's stock were exchanged, compared to its average volume of 7,572,511. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The stock has a market cap of $152.27 billion, a P/E ratio of 61.17, a P/E/G ratio of 2.48 and a beta of 0.66. Boston Scientific Corporation has a 1-year low of $75.44 and a 1-year high of $108.94. The stock has a 50 day moving average of $103.54 and a two-hundred day moving average of $102.07.

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 the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business's quarterly revenue was up 22.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal 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.