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% in the first quarter, Holdings Channel.com reports. The fund owned 894,310 shares of the medical equipment provider’s stock after buying an additional 207,303 shares during the quarter. ABN Amro Investment Solutions’ holdings in Boston Scientific were worth $56,118,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in BSX. FWL Investment Management LLC acquired a new position in Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. purchased a new stake in shares of Boston Scientific during the 4th quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Boston Scientific in the 4th quarter worth approximately $26,000. Bangor Savings Bank raised its holdings in Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 142 shares during the last quarter. Finally, Sfam LLC purchased a new stake in Boston Scientific during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other news, Director David C. Habiger bought 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the transaction, the director owned 13,878 shares in the company, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cheryl Pegus bought 1,770 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the purchase, the director directly owned 1,770 shares in the company, valued at $99,987.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 9,800 shares of company stock valued at $554,012. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BSX shares. Wells Fargo & Company restated an “equal weight” rating and issued a $55.00 price target (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Mizuho dropped their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Citigroup cut their target price on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Royal Bank Of Canada reduced their price target on shares of Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Weiss Ratings cut shares of Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

Boston Scientific Trading Down 1.4%

Shares of BSX stock opened at $43.14 on Wednesday. The company has a market capitalization of $64.12 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 0.84 and a beta of 0.58. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $47.77 and a 200 day moving average price of $64.93. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The company had revenue of $5.20 billion for 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 firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Research analysts forecast that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

Boston Scientific declared that its board has authorized a stock buyback program on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Boston Scientific Company 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.