Union Bancaire Privee UBP SA Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Union Bancaire Privee UBP SA trimmed its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 37.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 238,681 shares of the medical equipment provider's stock after selling 143,812 shares during the period. Union Bancaire Privee UBP SA's holdings in Boston Scientific were worth $23,159,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in BSX. Investment Management Corp VA ADV bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $25,000. Colonial Trust Co SC grew 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 acquiring an additional 260 shares during the period. TFC Financial Management Inc. grew its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 210 shares during the period. Sunbeam Capital Management LLC bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $31,000. 89.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BSX shares. Argus set a $130.00 target price on shares of Boston Scientific in a research report on Tuesday, February 18th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. BTIG Research restated a "buy" rating and set a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Evercore ISI upped their price target on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC restated a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research note on Wednesday, May 28th. Twenty-one investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of "Buy" and an average target price of $116.00.

Insider Activity

In related news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares in the company, valued at $157,379,150.88. This trade represents a 9.67% 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, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific 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 completion of the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $1.04 on Friday, hitting $99.60. 10,330,779 shares of the company traded hands, compared to its average volume of 6,562,299. The firm's 50-day simple moving average is $101.03 and its 200 day simple moving average is $98.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company has a market cap of $147.35 billion, a P/E ratio of 79.68, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted 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. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business's quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the company posted $0.56 EPS. Analysts expect that Boston Scientific Co. 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.