Boston Scientific Co. (NYSE:BSX) Shares Sold by AIA Group Ltd

AIA Group Ltd trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 72.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 6,207 shares of the medical equipment provider’s stock after selling 16,110 shares during the quarter. AIA Group Ltd’s holdings in Boston Scientific were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of BSX. Bruce G. Allen Investments LLC acquired a new stake in Boston Scientific during the 4th quarter valued at approximately $28,000. RiverPark Advisors LLC acquired a new stake in Boston Scientific during the 1st quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Boston Scientific during the 1st quarter valued at approximately $31,000. Sachetta LLC acquired a new stake in Boston Scientific during the 4th quarter valued at approximately $32,000. Finally, Frazier Financial Advisors LLC purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $32,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Boston Scientific news, Director Charles J. Dockendorff sold 3,946 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now directly owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,259 shares of company stock valued at $5,344,014. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.80 during trading hours on Friday, reaching $77.69. 4,430,837 shares of the company’s stock were exchanged, compared to its average volume of 6,161,429. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $77.99. The company has a market capitalization of $113.98 billion, a P/E ratio of 65.29, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The business has a fifty day moving average of $75.81 and a two-hundred day moving average of $68.96. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.68 billion. As a group, research analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group lifted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group assumed coverage on shares of Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 target price for the company. StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $82.00 target price on shares of Boston Scientific in a report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $78.29.

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.