Zurich Insurance Group Ltd FI Raises Holdings in Boston Scientific Co. (NYSE:BSX)

Zurich Insurance Group Ltd FI boosted its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,762,212 shares of the medical equipment provider's stock after purchasing an additional 268,820 shares during the quarter. Boston Scientific makes up 1.3% of Zurich Insurance Group Ltd FI's investment portfolio, making the stock its 15th biggest holding. Zurich Insurance Group Ltd FI owned approximately 0.12% of Boston Scientific worth $157,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BSX. TFC Financial Management Inc. increased its holdings in Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC increased its holdings in 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 worth $25,000 after purchasing an additional 260 shares during the period. Valley National Advisers Inc. increased its holdings in Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 286 shares during the period. Fairway Wealth LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $36,000. Finally, Global Trust Asset Management LLC increased its holdings in Boston Scientific by 64.5% during the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider's stock worth $39,000 after purchasing an additional 171 shares during the period. Hedge funds and other institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Up 0.5%

Boston Scientific stock opened at $106.61 on Tuesday. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.36. The stock has a 50 day moving average of $99.39 and a two-hundred day moving average of $96.90. 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 stock has a market capitalization of $157.72 billion, a price-to-earnings ratio of 85.29, a PEG ratio of 2.79 and a beta of 0.68.

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, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same period last year, the firm earned $0.56 EPS. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. As a group, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on BSX. Raymond James increased their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Barclays increased their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. UBS Group increased their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Evercore ISI increased their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Piper Sandler increased their price objective on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Twenty-three investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $114.74.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. This trade represents a 11.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,163 shares of company stock valued at $27,129,540. 0.50% of the stock is owned by company insiders.

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.

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