Zurcher Kantonalbank Zurich Cantonalbank Acquires 27,572 Shares of Boston Scientific Corporation (NYSE:BSX)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Boston Scientific Corporation (NYSE:BSX) by 2.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,319,998 shares of the medical equipment provider’s stock after purchasing an additional 27,572 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of Boston Scientific worth $133,161,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bank Pictet & Cie Europe AG boosted its holdings in shares of Boston Scientific by 40.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after buying an additional 21,173 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Boston Scientific by 18.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 39,523 shares of the medical equipment provider’s stock worth $3,987,000 after buying an additional 6,264 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of Boston Scientific during the 1st quarter worth $8,234,000. Blue Trust Inc. boosted its holdings in shares of Boston Scientific by 13.0% during the 1st quarter. Blue Trust Inc. now owns 5,000 shares of the medical equipment provider’s stock worth $504,000 after buying an additional 575 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Boston Scientific by 109.9% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 270,107 shares of the medical equipment provider’s stock worth $24,126,000 after buying an additional 141,398 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president owned 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president owned 18,705 shares in the company, valued at $1,955,420.70. The trade was a 19.64% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 457,144 shares of company stock worth $47,296,288. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.1%

Shares of Boston Scientific stock opened at $106.07 on Friday. The stock has a market capitalization of $156.92 billion, a P/E ratio of 63.14, a price-to-earnings-growth ratio of 2.67 and a beta of 0.68. 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 company has a 50-day simple moving average of $103.58 and a 200 day simple moving average of $101.55. Boston Scientific Corporation has a 12-month low of $71.88 and a 12-month high of $108.94.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data 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. The company had revenue of $5.06 billion during the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.39%. The company’s revenue was up 22.8% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. Research analysts expect that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BSX. Citigroup reaffirmed a “buy” rating and set a $125.00 price objective (up from $119.00) on shares of Boston Scientific in a report on Thursday, May 22nd. UBS Group upped their price objective on shares of Boston Scientific from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday. BTIG Research reiterated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Leerink Partners started coverage on shares of Boston Scientific in a research note on Monday, June 16th. They set an “outperform” rating and a $118.00 target price for the company. Finally, Morgan Stanley upped their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, twenty-two have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $117.50.

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.