AIA Group Ltd Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

AIA Group Ltd increased its holdings in Boston Scientific Co. (NYSE:BSX) by 2,067.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,312 shares of the medical equipment provider’s stock after purchasing an additional 91,868 shares during the quarter. AIA Group Ltd’s holdings in Boston Scientific were worth $8,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Mechanics Bank Trust Department purchased a new stake in Boston Scientific in the fourth quarter worth $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $4,887,000. Covenant Asset Management LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at about $3,405,000. Brookstone Capital Management raised its stake in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after buying an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. lifted its holdings in Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after buying an additional 4,702 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 1.5 %

Shares of NYSE:BSX opened at $99.29 on Monday. The stock has a 50 day moving average of $102.16 and a 200 day moving average of $93.18. The company has a market cap of $146.86 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BSX shares. UBS Group increased their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Morgan Stanley increased their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Raymond James upped their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Finally, TD Cowen lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Insider Activity

In other news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 over the last quarter. Insiders own 0.50% of the company’s stock.

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.