XTX Topco Ltd acquired a new stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 66,516 shares of the medical equipment provider's stock, valued at approximately $6,710,000. Boston Scientific comprises 0.3% of XTX Topco Ltd's investment portfolio, making the stock its 20th largest holding.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Boston Scientific by 10.2% in the 4th 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 acquiring an additional 3,344,571 shares during the period. Geode Capital Management LLC increased its position in shares of Boston Scientific by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after acquiring an additional 1,041,329 shares during the period. Capital World Investors increased its position in shares of Boston Scientific by 28.7% in the 4th 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. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock valued at $1,992,994,000 after acquiring an additional 554,388 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Boston Scientific by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock valued at $1,477,307,000 after acquiring an additional 832,386 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.
Analyst Upgrades and Downgrades
BSX has been the topic of several analyst reports. Erste Group Bank raised Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Wall Street Zen raised Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Robert W. Baird increased their price target on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Wells Fargo & Company increased their price target on Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $115.00 price target on shares of Boston Scientific in a research report on Wednesday, May 28th. Two analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $117.50.
Get Our Latest Stock Report on Boston Scientific
Boston Scientific Price Performance
BSX traded up $0.22 during trading on Wednesday, reaching $106.69. The company's stock had a trading volume of 7,162,908 shares, compared to its average volume of 7,231,528. The company has a quick ratio of 0.88, a current ratio of 1.45 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $103.60 and a two-hundred day simple moving average of $101.73. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $108.94. The company has a market cap of $157.84 billion, a price-to-earnings ratio of 63.51, a PEG ratio of 2.56 and a beta of 0.68.
Boston Scientific (NYSE:BSX - Get Free Report) last released its 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. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the company posted $0.62 EPS. The business's revenue was up 22.8% on a year-over-year basis. As a group, analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.
Insiders Place Their Bets
In other news, Director Edward J. Ludwig sold 4,000 shares of Boston Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total transaction of $424,120.00. Following the sale, the director owned 18,479 shares of the company's stock, valued at approximately $1,959,328.37. The trade was a 17.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of Boston Scientific stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the sale, the executive vice president directly owned 178,342 shares in the company, valued at approximately $18,347,824.96. The trade was a 24.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 464,045 shares of company stock worth $48,030,786. 0.50% of the stock is currently owned by insiders.
About Boston Scientific
(
Free Report)
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.
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