AIA Group Ltd Raises Stock Holdings in Boston Scientific Co. (NYSE:BSX)

AIA Group Ltd increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 86.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 22,317 shares of the medical equipment provider’s stock after acquiring an additional 10,346 shares during the period. AIA Group Ltd’s holdings in Boston Scientific were worth $1,290,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BSX. Moneta Group Investment Advisors LLC grew its position in shares of Boston Scientific by 112,306.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock worth $863,475,000 after purchasing an additional 18,645,058 shares in the last quarter. Norges Bank purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $632,520,000. FMR LLC grew its position in shares of Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares in the last quarter. Steadfast Capital Management LP purchased a new stake in shares of Boston Scientific during the fourth quarter worth about $138,969,000. Finally, American Century Companies Inc. grew its position in shares of Boston Scientific by 391.6% during the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BSX shares. Wells Fargo & Company increased their target price on Boston Scientific from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Mizuho raised Boston Scientific from a “neutral” rating to a “buy” rating and increased their price target for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. TD Cowen increased their price target on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Royal Bank of Canada increased their price target on Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Oppenheimer increased their price target on Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $68.50.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total transaction of $467,092.87. Following the transaction, the executive vice president now directly owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last three months, insiders sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $67.88 on Friday. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The firm has a market capitalization of $99.59 billion, a P/E ratio of 63.01, a P/E/G ratio of 2.38 and a beta of 0.78. The stock has a 50 day moving average price of $67.21 and a 200 day moving average price of $59.74.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company earned $0.45 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Boston Scientific Company 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.