GAM Holding AG Boosts Stake in Boston Scientific Co. (NYSE:BSX)

GAM Holding AG raised its holdings in Boston Scientific Co. (NYSE:BSX) by 475.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,497 shares of the medical equipment provider’s stock after purchasing an additional 68,152 shares during the quarter. GAM Holding AG’s holdings in Boston Scientific were worth $3,731,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of BSX. State Street Corp raised its holdings in shares of Boston Scientific by 1.8% in the 4th quarter. State Street Corp now owns 60,256,156 shares of the medical equipment provider’s stock valued at $2,724,783,000 after buying an additional 1,080,641 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Boston Scientific by 5.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,228,058 shares of the medical equipment provider’s stock valued at $497,559,000 after buying an additional 623,179 shares during the period. Voya Investment Management LLC raised its holdings in shares of Boston Scientific by 7.5% in the 3rd quarter. Voya Investment Management LLC now owns 7,065,694 shares of the medical equipment provider’s stock valued at $287,502,000 after buying an additional 494,213 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Boston Scientific by 0.9% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,317,461 shares of the medical equipment provider’s stock valued at $240,456,000 after buying an additional 47,607 shares during the period. Finally, WCM Investment Management LLC raised its holdings in shares of Boston Scientific by 5.3% in the 3rd quarter. WCM Investment Management LLC now owns 4,655,930 shares of the medical equipment provider’s stock valued at $189,450,000 after buying an additional 232,988 shares during the period. Institutional investors own 91.31% of the company’s stock.

Several research firms recently issued reports on BSX. Guggenheim set a $53.00 price objective on Boston Scientific and gave the company a “buy” rating in a report on Friday, October 25th. JPMorgan Chase & Co. upped their price target on Boston Scientific from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Cowen restated a “buy” rating and set a $52.00 price target on shares of Boston Scientific in a report on Wednesday, January 15th. ValuEngine downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Finally, Canaccord Genuity restated a “buy” rating and set a $58.00 price target on shares of Boston Scientific in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $49.48.

NYSE:BSX opened at $42.31 on Friday. The stock has a 50-day simple moving average of $43.87 and a 200-day simple moving average of $42.47. The stock has a market cap of $58.79 billion, a P/E ratio of 12.71, a P/E/G ratio of 2.27 and a beta of 0.87. Boston Scientific Co. has a 1 year low of $34.35 and a 1 year high of $46.62. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.14.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business had revenue of $2.91 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Boston Scientific had a return on equity of 23.62% and a net margin of 43.78%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. On average, equities research analysts predict that Boston Scientific Co. will post 1.77 EPS for the current year.

In related news, SVP Eric Francis Yves Thepaut sold 22,487 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $42.70, for a total value of $960,194.90. Following the completion of the sale, the senior vice president now directly owns 98,844 shares of the company’s stock, valued at approximately $4,220,638.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 20,463 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $42.03, for a total value of $860,059.89. Following the completion of the sale, the chief financial officer now directly owns 250,710 shares of the company’s stock, valued at $10,537,341.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,064 shares of company stock valued at $10,218,416. Insiders own 0.66% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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