Twin Capital Management Inc. Increases Stake in Boston Scientific Corporation (NYSE:BSX)

Twin Capital Management Inc. grew its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 99.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,663 shares of the medical equipment provider's stock after purchasing an additional 20,229 shares during the quarter. Twin Capital Management Inc.'s holdings in Boston Scientific were worth $4,102,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BSX. Norges Bank acquired a new stake in Boston Scientific during the 4th quarter worth $1,762,522,000. Capital World Investors increased its stake in 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 purchasing an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 2,556,078 shares during the last quarter. Finally, Axiom Investors LLC DE grew its position in shares of Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after acquiring an additional 2,535,007 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup reaffirmed a "buy" rating and issued a $125.00 price objective (up previously from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. Barclays upped their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Royal Bank Of Canada upped their price target on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Leerink Partnrs upgraded Boston Scientific to a "strong-buy" rating in a report on Monday, June 16th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $116.04.

Boston Scientific Stock Up 4.0%

Boston Scientific stock traded up $4.15 during midday trading on Wednesday, hitting $107.31. 8,675,636 shares of the stock were exchanged, compared to its average volume of 6,764,601. The firm has a market cap of $158.75 billion, a P/E ratio of 78.22, a P/E/G ratio of 3.02 and a beta of 0.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $108.73. The company has a 50 day moving average price of $103.42 and a two-hundred day moving average price of $101.16.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results 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 net margin of 11.58% and a return on equity of 18.67%. The firm had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $0.62 EPS. Boston Scientific's revenue was up 22.8% on a year-over-year basis. On average, sell-side analysts predict that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, 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 sale, the chief executive officer directly owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 457,144 shares of company stock worth $47,296,288. Corporate 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.