Mirae Asset Global Investments Co. Ltd. Acquires 34,404 Shares of Boston Scientific Corporation (NYSE:BSX)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 19.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,717 shares of the medical equipment provider's stock after purchasing an additional 34,404 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Boston Scientific were worth $21,471,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BSX. Money Concepts Capital Corp acquired a new stake in Boston Scientific during the 1st quarter worth $1,179,000. Achmea Investment Management B.V. increased its position in Boston Scientific by 42.5% in the 1st quarter. Achmea Investment Management B.V. now owns 200,055 shares of the medical equipment provider's stock valued at $20,181,000 after acquiring an additional 59,682 shares during the period. Illinois Municipal Retirement Fund lifted its position in Boston Scientific by 17.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 217,158 shares of the medical equipment provider's stock worth $21,907,000 after acquiring an additional 32,356 shares during the period. Transcend Capital Advisors LLC grew its stake in shares of Boston Scientific by 17.2% in the 1st quarter. Transcend Capital Advisors LLC now owns 8,709 shares of the medical equipment provider's stock valued at $879,000 after purchasing an additional 1,275 shares during the last quarter. Finally, Diversified Trust Co increased its holdings in shares of Boston Scientific by 15.9% in the first quarter. Diversified Trust Co now owns 5,236 shares of the medical equipment provider's stock valued at $528,000 after purchasing an additional 718 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last 90 days. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BSX. Citigroup reaffirmed a "buy" rating and set a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Royal Bank Of Canada lifted their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Barclays boosted their price target on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research note on Wednesday, May 28th. 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 MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $116.09.

Boston Scientific Price Performance

Shares of BSX traded up $0.92 on Monday, hitting $107.45. The company's stock had a trading volume of 7,005,905 shares, compared to its average volume of 6,625,037. The company has a 50 day moving average price of $102.74 and a 200 day moving average price of $99.68. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $107.80. The company has a market capitalization of $158.97 billion, a PE ratio of 78.43, a PEG ratio of 2.75 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 (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the firm earned $0.56 EPS. On average, research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share 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.