Ethic Inc. Acquires 26,919 Shares of Boston Scientific Corporation $BSX

Key Points

• Ethic Inc. increased its stake in Boston Scientific Corporation by 11.1% during Q1, owning 268,848 shares worth approximately $27.2 million.
• Several institutional investors, including NS Partners Ltd and Bank Pictet & Cie Europe AG, have also increased their stakes, indicating strong institutional interest in the stock.
• Boston Scientific reported a significant quarterly revenue of $5.06 billion and an EPS of $0.75, surpassing analyst expectations.

Ethic Inc. boosted its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 268,848 shares of the medical equipment provider's stock after acquiring an additional 26,919 shares during the period. Boston Scientific accounts for 0.6% of Ethic Inc.'s investment portfolio, making the stock its 22nd largest holding. Ethic Inc.'s holdings in Boston Scientific were worth $27,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. Colonial Trust Co SC raised its position in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV bought a new position in Boston Scientific in the 4th quarter valued at $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific in the 4th quarter valued at $26,000. Y.D. More Investments Ltd bought a new position in shares of Boston Scientific during the 1st quarter worth $27,000. Finally, Ameriflex Group Inc. bought a new position in shares of Boston Scientific during the 4th quarter worth $31,000. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,000 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director owned 18,479 shares in the company, valued at approximately $1,959,328.37. This represents a 17.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares of the company's stock, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 345,029 shares of company stock valued at $35,976,603. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 1.0%

Shares of BSX stock traded down $1.00 during mid-day trading on Friday, hitting $103.15. The company's stock had a trading volume of 5,342,171 shares, compared to its average volume of 6,800,550. Boston Scientific Corporation has a 52-week low of $77.29 and a 52-week high of $108.94. The business has a 50-day moving average price of $103.56 and a 200 day moving average price of $102.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The stock has a market cap of $152.84 billion, a price-to-earnings ratio of 61.40, a PEG ratio of 2.48 and a beta of 0.66.

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

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Robert W. Baird raised their price objective on Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Barclays raised their price objective on Boston Scientific from $125.00 to $133.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. UBS Group raised their price target on Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of "Buy" and a consensus target price of $117.50.

Boston Scientific 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.