Boston Scientific Corporation $BSX Shares Bought by ABN Amro Investment Solutions

ABN Amro Investment Solutions raised its holdings in Boston Scientific Corporation (NYSE:BSX) by 30.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 894,310 shares of the medical equipment provider’s stock after purchasing an additional 207,303 shares during the quarter. ABN Amro Investment Solutions owned 0.06% of Boston Scientific worth $56,118,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. FWL Investment Management LLC acquired a new position in Boston Scientific during the second quarter worth $26,000. Swiss RE Ltd. purchased a new stake in shares of Boston Scientific in the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Boston Scientific during the 4th quarter worth about $26,000. Bangor Savings Bank grew its position in Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 142 shares in the last quarter. Finally, Sfam LLC purchased a new stake in Boston Scientific during the fourth quarter worth about $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig acquired 3,580 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director owned 25,359 shares of the company’s stock, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Cheryl Pegus acquired 1,770 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the purchase, the director owned 1,770 shares of the company’s stock, valued at $99,987.30. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 9,800 shares of company stock worth $554,012. Corporate insiders own 0.34% of the company’s stock.

Boston Scientific Stock Down 1.4%

Boston Scientific stock opened at $43.14 on Wednesday. The stock’s fifty day moving average is $47.77 and its two-hundred day moving average is $64.93. The stock has a market cap of $64.12 billion, a PE ratio of 18.05, a P/E/G ratio of 0.84 and a beta of 0.58. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating the consensus estimate of $0.79 by $0.01. Boston Scientific had a net margin of 17.29% and a return on equity of 19.17%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.19 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The firm’s revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Boston Scientific Corporation will post 3.35 EPS for the current fiscal year.

Boston Scientific announced that its board has approved a stock buyback program on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Leerink Partners lowered their price objective on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Citigroup dropped their price target on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Evercore set a $65.00 price objective on Boston Scientific in a research note on Monday, July 6th. The Goldman Sachs Group set a $71.00 target price on Boston Scientific in a research note on Thursday, May 28th. Finally, Royal Bank Of Canada reduced their price target on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.