Boston Scientific Corporation (NYSE:BSX) Stock Position Increased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Boston Scientific Corporation by 2.1%, purchasing an additional 27,572 shares, bringing its total ownership to approximately 1,319,998 shares valued at $133 million.
• Insider sales included EVP Arthur C. Butcher selling 17,314 shares for around $1.77 million, representing a decrease of 43.78% in his ownership of the company's stock.
• Boston Scientific reported a 22.8% year-over-year revenue increase in its last quarterly earnings, surpassing expectations with earnings of $0.75 per share compared to the consensus estimate of $0.72.

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,319,998 shares of the medical equipment provider's stock after buying an additional 27,572 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.09% of Boston Scientific worth $133,161,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors grew its position in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of 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 worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 worth $260,057,000 after acquiring an additional 2,556,078 shares during the period. Axiom Investors LLC DE increased its stake 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 period. Finally, Northern Trust Corp grew its position in Boston Scientific by 18.0% during the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after buying an additional 2,221,790 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $106.97, for a total transaction of $5,348,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares in the company, valued at $19,077,243.74. The trade was a 21.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president directly owned 22,235 shares of the company's stock, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 461,144 shares of company stock worth $47,720,408. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Down 0.1%

Shares of Boston Scientific stock traded down $0.06 on Wednesday, hitting $106.41. 2,530,503 shares of the company's stock traded hands, compared to its average volume of 7,690,638. 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's 50-day moving average is $103.56 and its 200 day moving average is $101.69. The stock has a market cap of $157.42 billion, a P/E ratio of 63.36, a PEG ratio of 2.55 and a beta of 0.68. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $108.94.

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 the consensus estimate of $0.72 by $0.03. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the firm earned $0.62 EPS. The company's revenue was up 22.8% on a year-over-year basis. Equities analysts anticipate that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BSX. Jefferies Financial Group reaffirmed a "hold" rating on shares of Boston Scientific in a research note on Monday, July 21st. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Boston Scientific in a research note on Thursday, July 24th. Morgan Stanley boosted their price target on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Robert W. Baird raised their price objective on Boston Scientific from $117.00 to $123.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Two equities research 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. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $117.50.

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.