OVERSEA CHINESE BANKING Corp Ltd Has $613,000 Stock Holdings in Boston Scientific Corporation (NYSE:BSX)

OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Boston Scientific Corporation (NYSE:BSX - Free Report) by 152.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,073 shares of the medical equipment provider's stock after acquiring an additional 3,667 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Boston Scientific were worth $613,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares during the period. Wellington Management Group LLP increased its position in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased 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 worth $2,729,371,000 after purchasing an additional 1,041,329 shares in the last quarter. Capital World Investors increased 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 worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Boston Scientific by 2.5% during 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. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded down $0.97 during trading on Friday, reaching $103.68. The company's stock had a trading volume of 8,571,099 shares, compared to its average volume of 6,759,201. The business has a 50 day moving average price of $103.42 and a 200-day moving average price of $100.99. The company has a market capitalization of $153.39 billion, a P/E ratio of 75.68, a price-to-earnings-growth ratio of 2.72 and a beta of 0.68. The company has a quick ratio of 0.88, a current ratio of 1.45 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 issued 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. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The firm's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BSX. BTIG Research restated a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Leerink Partners began coverage on shares of Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 target price for the company. Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Royal Bank Of Canada increased their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Truist Financial increased their target price on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $116.09.

Insider Buying and Selling

In other Boston Scientific news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the sale, the executive vice president owned 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president owned 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 461,970 shares of company stock worth $47,755,193. Corporate 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.