Zurich Insurance Group Ltd FI Raises Stake in Boston Scientific Co. (NYSE:BSX)

Zurich Insurance Group Ltd FI raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 57.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,047,710 shares of the medical equipment provider’s stock after buying an additional 750,811 shares during the period. Boston Scientific comprises about 1.4% of Zurich Insurance Group Ltd FI’s investment portfolio, making the stock its 11th biggest holding. Zurich Insurance Group Ltd FI’s holdings in Boston Scientific were worth $157,694,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CVA Family Office LLC increased its position in shares of Boston Scientific by 7.4% during the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Boston Scientific by 0.6% in the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after purchasing an additional 139 shares during the period. ST Germain D J Co. Inc. grew its position in shares of Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after buying an additional 143 shares during the period. Pinnacle Associates Ltd. grew its stake in shares of Boston Scientific by 2.0% in the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC increased its position in Boston Scientific by 2.2% during the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 20,949 shares of company stock valued at $1,627,877. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BSX. The Goldman Sachs Group began coverage on Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price on the stock. Needham & Company LLC increased their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 price target on shares of Boston Scientific in a research note on Thursday, July 25th. Morgan Stanley increased their price objective on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Finally, Argus lifted their price objective on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.65.

Boston Scientific Trading Down 0.6 %

NYSE:BSX opened at $83.51 on Wednesday. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89. The business has a fifty day moving average price of $78.94 and a 200-day moving average price of $74.96. The firm has a market capitalization of $122.52 billion, a price-to-earnings ratio of 70.18, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts forecast that Boston Scientific Co. will post 2.4 EPS 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.