Mediolanum International Funds Ltd Lowers Position in Boston Scientific Corporation (NYSE:BSX)

Mediolanum International Funds Ltd lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 19.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 422,870 shares of the medical equipment provider’s stock after selling 102,206 shares during the period. Mediolanum International Funds Ltd’s holdings in Boston Scientific were worth $42,016,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Capital World Investors increased its holdings in shares of 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 buying an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 last quarter. GAMMA Investing LLC raised its holdings in shares of Boston Scientific by 11,720.3% in the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock worth $260,057,000 after purchasing an additional 2,556,078 shares during the period. Axiom Investors LLC DE lifted its stake in shares of Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Boston Scientific by 18.0% in the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock valued at $1,303,681,000 after purchasing an additional 2,221,790 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president owned 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the completion of the sale, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. This represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 457,144 shares of company stock worth $47,296,288. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on BSX. Barclays lifted their price target on shares of Boston Scientific from $125.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday. Leerink Partners assumed coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 price target for the company. Erste Group Bank upgraded Boston Scientific to a “strong-buy” rating in a research note on Thursday, May 8th. Raymond James Financial upped their target price on Boston Scientific from $121.00 to $124.00 and gave the stock a “strong-buy” rating in a research report on Thursday. Finally, Royal Bank Of Canada raised their target price on Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $117.50.

Boston Scientific Trading Down 0.1%

NYSE BSX opened at $106.07 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.88 and a current ratio of 1.45. Boston Scientific Corporation has a one year low of $71.88 and a one year high of $108.94. The company has a 50-day simple moving average of $103.58 and a 200-day simple moving average of $101.51. The firm has a market capitalization of $156.92 billion, a PE ratio of 63.14, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a return on equity of 19.39% and a net margin of 13.55%. Boston Scientific’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share. On average, equities analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

About Boston Scientific

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.