National Pension Service Has $355.42 Million Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• The National Pension Service increased its stake in Boston Scientific Corporation by 5.2%, acquiring an additional 172,938 shares, bringing its total ownership to 3,523,142 shares valued at approximately $355.4 million.
• Insider sales include CEO Michael F. Mahoney selling 164,443 shares worth over $17 million, while EVP Arthur C. Butcher sold 17,313 shares valued at about $1.8 million, reflecting a substantial decrease in their ownership percentages.
• Boston Scientific's stock has a market capitalization of $151.94 billion and the company reported a quarterly revenue of $5.06 billion, significantly surpassing analyst expectations of $4.89 billion.

National Pension Service increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 5.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,523,142 shares of the medical equipment provider's stock after acquiring an additional 172,938 shares during the period. National Pension Service owned approximately 0.24% of Boston Scientific worth $355,415,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. NS Partners Ltd grew its holdings in Boston Scientific by 1.6% during the first quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider's stock worth $37,143,000 after acquiring an additional 5,704 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Boston Scientific by 40.8% during 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 acquiring an additional 21,173 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Boston Scientific by 18.8% during the first quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider's stock worth $3,987,000 after acquiring an additional 6,264 shares during the period. Segall Bryant & Hamill LLC acquired a new position in Boston Scientific during the first quarter worth about $8,234,000. Finally, Blue Trust Inc. grew its holdings in Boston Scientific by 13.0% during the first quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider's stock worth $504,000 after acquiring an additional 575 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other 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 completion of the sale, the chief executive officer directly owned 1,476,882 shares in the company, valued at $153,137,894.58. The trade was a 10.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total value of $5,231,500.00. Following the sale, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $18,659,923.46. This represents a 21.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 345,029 shares of company stock worth $35,976,603 over the last quarter. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Down 1.0%

Shares of Boston Scientific stock traded down $1.00 during trading on Friday, hitting $103.15. 5,342,171 shares of the stock traded hands, compared to its average volume of 6,961,994. The stock has a market cap of $152.84 billion, a P/E ratio of 61.40, a PEG ratio of 2.51 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. Boston Scientific Corporation has a twelve month low of $77.29 and a twelve month high of $108.94. The company has a fifty day moving average price of $103.56 and a two-hundred day moving average price of $102.10.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 target price on shares of Boston Scientific in a report on Wednesday, May 28th. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Raymond James Financial lifted their price target 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. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Leerink Partners started coverage on Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 price target on the stock. Two research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $117.50.

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.