Swiss National Bank Has $419.34 Million Position in Boston Scientific Corporation (NYSE:BSX)

Key Points

• The Swiss National Bank reduced its stake in Boston Scientific Corporation by 0.1%, owning about 4.16 million shares valued at approximately $419 million as of the latest report.
• Other institutional investors have also increased their holdings, with Capital World Investors growing its stake by 28.7% and GAMMA Investing LLC boosting it by an extraordinary 11,720.3% in the first quarter.
• Boston Scientific reported a 22.8% year-over-year increase in quarterly revenue, totaling $5.06 billion, and beat earnings expectations with $0.75 earnings per share.

Swiss National Bank decreased its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,156,800 shares of the medical equipment provider's stock after selling 3,400 shares during the period. Swiss National Bank owned approximately 0.28% of Boston Scientific worth $419,338,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Y.D. More Investments Ltd acquired a new position in shares of Boston Scientific during the first quarter valued at approximately $27,000. Investment Management Corp VA ADV bought a new position in Boston Scientific during the 4th quarter valued at $25,000. Colonial Trust Co SC increased its position in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 260 shares during the period. Sunbeam Capital Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth $26,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter valued at $31,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI lifted their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Robert W. Baird increased their price objective on Boston Scientific from $117.00 to $123.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Oppenheimer increased their price objective on Boston Scientific from $110.00 to $118.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Jefferies Financial Group reiterated a "hold" rating on shares of Boston Scientific in a research report on Monday, July 21st. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and an average price target of $117.50.

Insider Activity

In other Boston Scientific news, Director Yoshiaki Fujimori sold 2,901 shares of the stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the transaction, the director directly owned 2,081 shares of the company's stock, valued at $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction 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 transaction, the director directly owned 18,479 shares in the company, valued at $1,959,328.37. The trade was a 17.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 345,029 shares of company stock valued at $35,976,603. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 0.3%

Shares of NYSE BSX traded up $0.26 during mid-day trading on Friday, reaching $103.22. The company had a trading volume of 5,076,176 shares, compared to its average volume of 7,613,214. Boston Scientific Corporation has a twelve month low of $75.00 and a twelve month high of $108.94. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.88 and a current ratio of 1.37. The stock has a market capitalization of $152.95 billion, a PE ratio of 61.44, a price-to-earnings-growth ratio of 2.48 and a beta of 0.66. The stock's 50 day moving average is $103.54 and its 200-day moving average is $102.07.

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

Boston Scientific Company 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.