Penserra Capital Management LLC Has $888,000 Holdings in Boston Scientific Corporation (NYSE:BSX)

Penserra Capital Management LLC increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 128.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,811 shares of the medical equipment provider's stock after acquiring an additional 4,952 shares during the quarter. Penserra Capital Management LLC's holdings in Boston Scientific were worth $888,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Investment Management Corp VA ADV purchased a new stake in Boston Scientific during the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its holdings 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 during the period. Sunbeam Capital Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $26,000. Ameriflex Group Inc. purchased a new stake in Boston Scientific during the 4th quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 22,235 shares of the company's stock, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the 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 completion of the transaction, the chief executive officer owned 1,476,882 shares of the company's stock, valued at $153,137,894.58. This trade represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 461,970 shares of company stock valued at $47,755,193. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Citigroup reissued a "buy" rating and issued a $125.00 price target (up from $119.00) on shares of Boston Scientific in a research note on Thursday, May 22nd. Robert W. Baird lifted their price objective on Boston Scientific from $115.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, April 29th. Finally, Truist Financial lifted their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Twenty-two equities research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $116.09.

Boston Scientific Stock Performance

BSX traded down $0.70 during trading on Friday, reaching $103.16. 5,890,147 shares of the company were exchanged, compared to its average volume of 6,701,002. Boston Scientific Corporation has a 52 week low of $71.88 and a 52 week high of $107.53. The stock has a market cap of $152.62 billion, a P/E ratio of 75.30, a PEG ratio of 2.70 and a beta of 0.68. The firm has a 50 day moving average of $103.42 and a 200 day moving average of $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 announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm posted $0.56 earnings per share. The company's revenue was up 20.9% on a year-over-year basis. On average, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.