S Bank Fund Management Ltd Makes New Investment in Boston Scientific Corporation (NYSE:BSX)

Key Points

• S Bank Fund Management Ltd has acquired a new position in Boston Scientific Corporation by purchasing 13,846 shares valued at approximately $1.4 million in the first quarter.
• Boston Scientific reported a quarterly earnings per share (EPS) of $0.75, surpassing analysts' estimates and reflecting a 22.8% year-over-year revenue increase to $5.06 billion.
• Insider transactions included CEO Michael F. Mahoney selling over 164,000 shares, resulting in a significant decrease of 10.02% in his ownership stake.

S Bank Fund Management Ltd purchased a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,846 shares of the medical equipment provider's stock, valued at approximately $1,397,000.

Several other large investors have also made changes to their positions in BSX. Capital World Investors lifted its stake 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 acquiring an additional 6,216,199 shares during the period. GAMMA Investing LLC lifted its stake in shares of Boston Scientific by 11,720.3% during the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after acquiring an additional 2,556,078 shares during the period. Northern Trust Corp lifted its stake in shares of Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock valued at $1,303,681,000 after acquiring an additional 2,221,790 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Boston Scientific by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,839,362 shares of the medical equipment provider's stock valued at $968,172,000 after buying an additional 1,709,461 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider's stock valued at $13,577,311,000 after buying an additional 1,697,945 shares during the period. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Leerink Partnrs raised Boston Scientific to a "strong-buy" rating in a research note on Monday, June 16th. Robert W. Baird increased their target price on Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Leerink Partners assumed coverage on Boston Scientific in a research note on Monday, June 16th. They issued an "outperform" rating and a $118.00 target price on the stock. Oppenheimer increased their target price on Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Finally, Jefferies Financial Group reissued a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $117.50.

Boston Scientific Stock Performance

Shares of BSX traded down $1.00 during mid-day trading on Friday, reaching $103.15. The company's stock had a trading volume of 5,342,171 shares, compared to its average volume of 6,961,994. Boston Scientific Corporation has a 1-year low of $77.29 and a 1-year high of $108.94. The stock has a market cap of $152.84 billion, a P/E ratio of 61.40, a PEG ratio of 2.48 and a beta of 0.66. The business has a 50-day simple moving average of $103.56 and a two-hundred day simple moving average of $102.09. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. During the same period last year, the firm posted $0.62 earnings per share. The business's revenue was up 22.8% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the sale, the director directly owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. This trade represents a 17.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $1,811,459.19. Following the sale, the executive vice president directly owned 23,600 shares of the company's stock, valued at approximately $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 345,029 shares of company stock valued at $35,976,603. Insiders own 0.50% of the company's stock.

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.