Invesco LLC Buys Shares of 3,584 Boston Scientific Corporation (NYSE:BSX)

Invesco LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,584 shares of the medical equipment provider's stock, valued at approximately $362,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank Pictet & Cie Europe AG lifted its position in shares of 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 worth $6,529,000 after buying an additional 21,173 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Boston Scientific by 13.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 184,802 shares of the medical equipment provider's stock valued at $16,507,000 after acquiring an additional 22,504 shares in the last quarter. Blue Trust Inc. lifted its holdings in Boston Scientific by 13.0% in 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 last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Boston Scientific by 109.9% during the fourth 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, 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 purchasing an additional 832,386 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Citigroup reissued a "buy" rating and set a $125.00 target price (up previously from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. BTIG Research reissued a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 23rd. Leerink Partners started coverage on Boston Scientific in a report on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price on the stock. Barclays lifted their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Twenty-two research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $116.09.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 411,970 shares of company stock valued at $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.19 during trading on Wednesday, reaching $104.31. The stock had a trading volume of 5,691,604 shares, compared to its average volume of 6,584,491. The stock has a market capitalization of $154.32 billion, a PE ratio of 76.14, a P/E/G ratio of 2.65 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.17. The business's 50-day moving average price is $102.14 and its 200 day moving average price is $99.29.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the previous year, the company posted $0.56 EPS. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

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.