Boston Scientific Co. (NYSE:BSX) Shares Sold by ING Groep NV

ING Groep NV reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 196,950 shares of the medical equipment provider’s stock after selling 881 shares during the quarter. ING Groep NV’s holdings in Boston Scientific were worth $16,504,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital World Investors increased its stake in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Marshall Wace LLP increased its position in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the last quarter. Capital Research Global Investors purchased a new position in Boston Scientific during the first quarter worth approximately $182,897,000. AustralianSuper Pty Ltd grew its stake in shares of Boston Scientific by 4,292.3% during 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 buying an additional 2,615,903 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $87.59 on Friday. The company has a market capitalization of $129.09 billion, a P/E ratio of 72.39, a P/E/G ratio of 2.61 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average of $85.03 and a 200-day moving average of $79.33. Boston Scientific Co. has a 12 month low of $53.56 and a 12 month high of $89.30.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for 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 business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Analyst Ratings Changes

BSX has been the subject of a number of research reports. Morgan Stanley boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup raised their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Robert W. Baird increased their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. BTIG Research raised their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, TD Cowen increased their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

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.