Natixis Advisors LLC Buys 136,346 Shares of Boston Scientific Corporation (NYSE:BSX)

Key Points

• Natixis Advisors LLC increased its stake in Boston Scientific by 6.7%, owning approximately 2.17 million shares valued at $218.5 million after acquiring an additional 136,346 shares.
• Insider sales have occurred, with EVP Arthur C. Butcher selling 17,314 shares for approximately $1.77 million, decreasing his ownership by 43.78%.
• Boston Scientific's shares recently opened at $106.40, with analysts maintaining a consensus rating of "Buy" and an average target price of $117.50.

Natixis Advisors LLC increased its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,166,415 shares of the medical equipment provider's stock after purchasing an additional 136,346 shares during the period. Natixis Advisors LLC owned approximately 0.15% of Boston Scientific worth $218,548,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the last quarter. Capital World Investors raised its position in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after purchasing an additional 554,388 shares in the last quarter. Invesco Ltd. raised its position in Boston Scientific by 13.6% in the fourth quarter. Invesco Ltd. now owns 15,790,666 shares of the medical equipment provider's stock worth $1,410,422,000 after purchasing an additional 1,893,012 shares in the last quarter. Finally, Northern Trust Corp raised its position in Boston Scientific by 18.0% in the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after purchasing an additional 2,221,790 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president directly owned 18,705 shares of the company's stock, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 282,288 shares of company stock worth $29,411,601. 0.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on BSX shares. Robert W. Baird upped their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. BTIG Research reaffirmed a "buy" rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group increased their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Evercore ISI increased their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $117.50.

Boston Scientific Stock Down 1.8%

Shares of NYSE:BSX traded down $1.89 during midday trading on Thursday, reaching $104.87. 6,714,432 shares of the company were exchanged, compared to its average volume of 7,264,099. Boston Scientific Corporation has a fifty-two week low of $71.88 and a fifty-two week high of $108.94. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $103.61 and a two-hundred day simple moving average of $101.80. The firm has a market cap of $155.15 billion, a PE ratio of 62.42, a P/E/G ratio of 2.57 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued 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. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business earned $0.62 EPS. The company's revenue was up 22.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

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.