Boston Scientific Corporation $BSX Shares Purchased by Unisphere Establishment

Unisphere Establishment raised its stake in Boston Scientific Corporation (NYSE:BSX) by 28.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,802,700 shares of the medical equipment provider’s stock after buying an additional 626,000 shares during the quarter. Boston Scientific makes up about 1.5% of Unisphere Establishment’s investment portfolio, making the stock its 18th largest holding. Unisphere Establishment owned about 0.19% of Boston Scientific worth $175,869,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BSX. Vanguard Group Inc. lifted its position in Boston Scientific by 1.0% in the 4th 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 last quarter. State Street Corp grew 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 worth $6,278,422,000 after purchasing an additional 920,495 shares during the last quarter. Capital World Investors increased its stake in shares of Boston Scientific by 1.9% in the fourth 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 during the period. Norges Bank bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $2,199,395,000. Finally, Morgan Stanley boosted 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 during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Barclays decreased their price objective on Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 28th. Weiss Ratings lowered Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. Raymond James Financial reissued an “outperform” rating and issued a $88.00 price target (down from $97.00) on shares of Boston Scientific in a research note on Monday, March 30th. Zacks Research lowered Boston Scientific from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.84.

Insider Buying and Selling

In other Boston Scientific news, Director Edward J. Ludwig purchased 3,580 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were purchased at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the transaction, the director owned 25,359 shares in the company, valued at $1,437,348.12. This represents a 16.44% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Cheryl Pegus purchased 1,770 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders acquired 9,800 shares of company stock worth $554,012. Corporate insiders own 0.34% of the company’s stock.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $44.26 on Friday. The stock has a market cap of $65.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The stock’s 50 day moving average price is $47.21 and its 200 day moving average price is $64.06.

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

Boston Scientific declared that its Board of Directors has authorized a share buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Boston Scientific 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.