Boston Scientific Co. (NYSE:BSX) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp increased its position in Boston Scientific Co. (NYSE:BSX) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 271,489 shares of the medical equipment provider’s stock after purchasing an additional 42,933 shares during the quarter. Fifth Third Bancorp’s holdings in Boston Scientific were worth $27,388,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the last quarter. Colonial Trust Co SC lifted its stake in shares of Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV purchased a new position in Boston Scientific in the fourth quarter valued at about $25,000. Sunbeam Capital Management LLC acquired a new stake in Boston Scientific during the 4th quarter valued at approximately $26,000. Finally, Ameriflex Group Inc. purchased a new stake in Boston Scientific during the 4th quarter worth approximately $31,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $98.43 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm’s 50-day moving average price is $100.84 and its two-hundred day moving average price is $98.62. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The stock has a market capitalization of $145.62 billion, a P/E ratio of 78.74, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the company posted $0.56 earnings per share. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. As a group, sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent analyst reports. Citigroup reaffirmed a “buy” rating and issued a $125.00 target price (up from $119.00) on shares of Boston Scientific in a research report on Thursday, May 22nd. Evercore ISI upped their target price on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. 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. Finally, Barclays increased their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Twenty-one research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $116.00.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the transaction, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 411,970 shares of company stock worth $42,406,693. 0.50% of the stock is owned by company insiders.

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.