Boston Scientific Corporation $BSX Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft decreased its holdings in Boston Scientific Corporation (NYSE:BSX) by 50.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,770 shares of the medical equipment provider’s stock after selling 12,014 shares during the period. Baader Bank Aktiengesellschaft’s holdings in Boston Scientific were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after purchasing an additional 1,436,550 shares during the period. State Street Corp raised its position in Boston Scientific by 1.4% in the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock valued at $6,278,422,000 after purchasing an additional 920,495 shares in the last quarter. Capital World Investors raised its position in Boston Scientific by 1.9% in the 4th quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after purchasing an additional 502,627 shares in the last quarter. Norges Bank purchased a new position in shares of Boston Scientific in the 4th quarter valued at about $2,199,395,000. Finally, Morgan Stanley grew its position in shares of Boston Scientific by 10.8% during the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after buying an additional 2,246,308 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 1.4%

BSX stock opened at $43.14 on Wednesday. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The company’s 50 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 P/E ratio of 18.05, a PEG ratio of 0.84 and a beta of 0.58.

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

Boston Scientific declared that its board has approved a stock repurchase program on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig purchased 3,580 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the transaction, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cheryl Pegus acquired 1,770 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 9,800 shares of company stock valued at $554,012 over the last ninety days. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on BSX shares. Robert W. Baird set a $70.00 target price on shares of Boston Scientific in a report on Thursday, May 28th. Raymond James Financial reiterated an “outperform” rating and set a $88.00 price target (down from $97.00) on shares of Boston Scientific in a report on Monday, March 30th. Jefferies Financial Group dropped their price objective on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Bank of America reduced their price objective on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.84.

About Boston Scientific

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.