J. Safra Sarasin Holding AG Has $16.43 Million Stake in Boston Scientific Corporation (NYSE:BSX)

Key Points

• J. Safra Sarasin Holding AG significantly increased its stake in Boston Scientific Corporation by 154.6% during the first quarter, owning 162,865 shares valued at approximately $16.43 million.
• Boston Scientific reported earnings of $0.75 per share, surpassing estimates, with a 22.8% year-over-year revenue increase to $5.06 billion for the latest quarter.
• Institutional investors currently own 89.07% of Boston Scientific's stock, indicating strong interest in the company among large financial institutions.

J. Safra Sarasin Holding AG increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 154.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 162,865 shares of the medical equipment provider's stock after purchasing an additional 98,900 shares during the period. J. Safra Sarasin Holding AG's holdings in Boston Scientific were worth $16,430,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BSX. Brighton Jones LLC boosted its position in shares of Boston Scientific by 0.8% during the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider's stock valued at $2,445,000 after acquiring an additional 226 shares in the last quarter. Bank Pictet & Cie Europe AG grew its stake in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider's stock valued at $6,529,000 after purchasing an additional 21,173 shares during the period. Highview Capital Management LLC DE raised its holdings in shares of Boston Scientific by 6.2% in the 4th quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider's stock worth $2,189,000 after buying an additional 1,439 shares in the last quarter. Nicolet Advisory Services LLC bought a new position in shares of Boston Scientific during the 4th quarter worth approximately $223,000. Finally, World Investment Advisors grew its position in Boston Scientific by 13.1% in the fourth quarter. World Investment Advisors now owns 13,215 shares of the medical equipment provider's stock valued at $1,180,000 after acquiring an additional 1,531 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Trading Down 1.9%

Shares of Boston Scientific stock traded down $2.08 during trading on Tuesday, hitting $104.71. 4,831,602 shares of the company were exchanged, compared to its average volume of 7,667,973. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The firm has a market capitalization of $154.91 billion, a P/E ratio of 62.33, a price-to-earnings-growth ratio of 2.54 and a beta of 0.66. The firm's fifty day moving average price is $103.67 and its 200 day moving average price is $101.98. Boston Scientific Corporation has a 1-year low of $73.02 and a 1-year high of $108.94.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data 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 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 analyst estimates of $4.89 billion. During the same quarter last year, the firm earned $0.62 EPS. Boston Scientific's quarterly revenue was up 22.8% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the transaction, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% 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, Director Yoshiaki Fujimori sold 2,901 shares of the business'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 transaction, the director directly owned 2,081 shares of the company's stock, valued at approximately $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 345,029 shares of company stock worth $35,976,603 over the last ninety days. Insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BSX shares. Barclays upped their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a report on Wednesday, May 28th. Raymond James Financial boosted their price objective on Boston Scientific from $121.00 to $124.00 and gave the stock a "strong-buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target on shares of Boston Scientific from $118.00 to $124.00 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 given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently 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.