4,786 Shares in Boston Scientific Corporation (NYSE:BSX) Bought by Zions Bancorporation National Association UT

Key Points

• Zions Bancorporation National Association UT invested approximately $483,000 in Boston Scientific Corporation by acquiring 4,786 shares during the first quarter.
• Institutional investors own 89.07% of Boston Scientific's stock, with several firms including Capital World Investors and GAMMA Investing LLC significantly increasing their stake recently.
• Boston Scientific reported a quarterly revenue of $5.06 billion, exceeding analyst expectations, with earnings per share of $0.75, beating estimates by $0.03.

Zions Bancorporation National Association UT acquired 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 filing with the Securities and Exchange Commission (SEC). The firm acquired 4,786 shares of the medical equipment provider's stock, valued at approximately $483,000.

Several other hedge funds have also recently modified their holdings of the stock. HM Payson & Co. raised its holdings in Boston Scientific by 1.4% during the 1st quarter. HM Payson & Co. now owns 6,875 shares of the medical equipment provider's stock valued at $694,000 after buying an additional 98 shares during the period. Baldwin Investment Management LLC boosted its stake in Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock worth $781,000 after buying an additional 102 shares during the period. Park Square Financial Group LLC increased its position in Boston Scientific by 5.2% during the first quarter. Park Square Financial Group LLC now owns 2,066 shares of the medical equipment provider's stock valued at $208,000 after acquiring an additional 103 shares during the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Boston Scientific by 13.2% in the 1st quarter. HHM Wealth Advisors LLC now owns 881 shares of the medical equipment provider's stock worth $89,000 after acquiring an additional 103 shares during the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BSX. Erste Group Bank raised shares of Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Leerink Partners began coverage on Boston Scientific in a research note on Monday, June 16th. They set an "outperform" rating and a $118.00 price target for the company. Morgan Stanley upped their price objective on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Barclays lifted their target price on Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, UBS Group upped their price target on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $117.50.

Insider Activity at Boston Scientific

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

Boston Scientific Stock Down 0.1%

Shares of NYSE:BSX traded down $0.08 during trading on Wednesday, reaching $102.56. The stock had a trading volume of 5,859,147 shares, compared to its average volume of 7,244,111. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $151.97 billion, a P/E ratio of 61.05, a PEG ratio of 2.47 and a beta of 0.66. The firm's 50-day simple moving average is $103.51 and its 200 day simple moving average is $102.08. Boston Scientific Corporation has a one year low of $75.53 and a one year high of $108.94.

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