Union Bancaire Privee UBP SA Trims Position in Boston Scientific Co. (NYSE:BSX)

Union Bancaire Privee UBP SA lowered its position in Boston Scientific Co. (NYSE:BSX) by 37.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 238,681 shares of the medical equipment provider’s stock after selling 143,812 shares during the period. Union Bancaire Privee UBP SA’s holdings in Boston Scientific were worth $23,159,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BSX. TFC Financial Management Inc. boosted its stake 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 worth $25,000 after purchasing an additional 210 shares during the period. Colonial Trust Co SC grew its stake in Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in Boston Scientific in the 4th quarter valued at $25,000. Sunbeam Capital Management LLC purchased a new stake in Boston Scientific in the 4th quarter worth $26,000. Finally, Ameriflex Group Inc. bought a new position in shares of Boston Scientific during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BSX. Barclays lifted their price objective on Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Morgan Stanley upped their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, May 16th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Finally, Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Twenty-one analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $116.00.

Boston Scientific Stock Up 0.0%

Shares of NYSE BSX opened at $99.38 on Thursday. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The stock’s fifty day simple moving average is $100.70 and its two-hundred day simple moving average is $98.55. The stock has a market capitalization of $147.03 billion, a PE ratio of 79.50, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

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

Insider Buying and Selling

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.69, for a total transaction of $17,051,094.67. Following the sale, the chief executive officer now owns 1,476,882 shares of the company’s stock, valued at $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 411,970 shares of company stock worth $42,406,693 in the last ninety days. 0.50% of the stock is owned by 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.