Ninety One UK Ltd Increases Holdings in Boston Scientific Corporation (NYSE:BSX)

Ninety One UK Ltd raised its position 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 Securities & Exchange Commission. The firm owned 3,855,804 shares of the medical equipment provider's stock after buying an additional 232,997 shares during the period. Boston Scientific comprises about 1.1% of Ninety One UK Ltd's holdings, making the stock its 27th largest holding. Ninety One UK Ltd owned about 0.26% of Boston Scientific worth $388,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Investment Management Corp VA ADV acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $25,000. Colonial Trust Co SC increased its position in shares of 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 in the last quarter. Sunbeam Capital Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $26,000. Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $31,000. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $36,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BSX shares. Robert W. Baird lifted their target price on Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Morgan Stanley boosted their price target on Boston Scientific from $120.00 to $125.00 and gave the company 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. BTIG Research restated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $116.09.

Boston Scientific Price Performance

Shares of NYSE:BSX traded up $0.55 during trading on Wednesday, hitting $102.96. 6,241,035 shares of the stock were exchanged, compared to its average volume of 6,685,151. The company has a fifty day moving average price of $103.45 and a two-hundred day moving average price of $100.33. The company has a market cap of $152.32 billion, a PE ratio of 75.15, a P/E/G ratio of 2.66 and a beta of 0.68. 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 Corporation has a 12-month low of $71.88 and a 12-month high of $107.53.

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

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president directly owned 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $102.88, for a total value of $5,799,551.36. Following the sale, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 461,970 shares of company stock worth $47,755,193 in the last three months. 0.50% of the stock is currently owned by insiders.

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.