Swiss National Bank Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Swiss National Bank lifted its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,363,600 shares of the medical equipment provider’s stock after buying an additional 11,600 shares during the quarter. Swiss National Bank’s holdings in Boston Scientific were worth $365,670,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of BSX. Capital World Investors lifted its stake in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after buying an additional 6,588,256 shares in the last quarter. Marshall Wace LLP increased its holdings in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. Capital Research Global Investors bought a new stake in Boston Scientific in the 1st quarter valued at $182,897,000. AustralianSuper Pty Ltd increased its holdings in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 in the last three months. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Bank of America lifted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. TD Cowen boosted their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Finally, Barclays boosted their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $86.99 on Friday. The company has a market capitalization of $128.21 billion, a price-to-earnings ratio of 71.89, a PEG ratio of 2.56 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $53.56 and a 12 month high of $89.30. The firm’s 50-day moving average is $85.26 and its 200 day moving average is $79.54. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.50 EPS. Research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific 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.