Ninety One UK Ltd Acquires 232,997 Shares of Boston Scientific Corporation (NYSE:BSX)

Ninety One UK Ltd boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,855,804 shares of the medical equipment provider's stock after buying an additional 232,997 shares during the quarter. Boston Scientific makes up approximately 1.1% of Ninety One UK Ltd's portfolio, making the stock its 27th largest holding. Ninety One UK Ltd owned about 0.26% of Boston Scientific worth $388,974,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Colonial Trust Co SC boosted its position in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 260 shares during the period. Investment Management Corp VA ADV bought a new position in Boston Scientific during the fourth quarter worth about $25,000. Sunbeam Capital Management LLC bought a new position in Boston Scientific during the fourth quarter worth about $26,000. Ameriflex Group Inc. bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $31,000. Finally, Fairway Wealth LLC bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $36,000. Institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on BSX. Needham & Company LLC restated a "buy" rating and issued a $115.00 price objective on shares of Boston Scientific in a research report on Wednesday, May 28th. Robert W. Baird raised their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Barclays raised their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Royal Bank Of Canada raised their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Citigroup restated a "buy" rating and issued a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. 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, the stock currently has an average rating of "Buy" and an average price target of $116.09.

Boston Scientific Price Performance

Shares of BSX stock traded down $0.70 during trading hours on Friday, hitting $103.16. 5,890,147 shares of the company's stock were exchanged, compared to its average volume of 6,701,002. The company has a market capitalization of $152.62 billion, a PE ratio of 75.30, a PEG ratio of 2.70 and a beta of 0.68. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $107.53. The business's 50 day simple moving average is $103.42 and its 200-day simple moving average is $100.53. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business's revenue was up 20.9% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. On average, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Activity

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction that occurred on Monday, June 2nd. The shares were 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 of the company's stock, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 461,970 shares of company stock valued at $47,755,193. Insiders own 0.50% of the company's stock.

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.