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

AIA Group Ltd grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 86.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,317 shares of the medical equipment provider’s stock after purchasing an additional 10,346 shares during the quarter. AIA Group Ltd’s holdings in Boston Scientific were worth $1,290,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $28,000. Sunbelt Securities Inc. purchased a new stake in shares of Boston Scientific during the 1st quarter valued at $32,000. Motco increased its position in shares of Boston Scientific by 136.3% during the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 372 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 215 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new stake in Boston Scientific in the 2nd quarter worth about $34,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 0.7 %

BSX opened at $67.88 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The business’s fifty day simple moving average is $67.21 and its 200 day simple moving average is $59.74. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $69.21. The stock has a market cap of $99.59 billion, a PE ratio of 63.01, a P/E/G ratio of 2.38 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the prior year, the company earned $0.45 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.25 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial increased their target price on shares of Boston Scientific from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Evercore ISI boosted their target price on shares of Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Mizuho upgraded Boston Scientific from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $80.00 in a research report on Thursday, February 1st. BTIG Research reiterated a “buy” rating and issued a $64.00 price target on shares of Boston Scientific in a research report on Friday, December 29th. Finally, JPMorgan Chase & Co. increased their price objective on Boston Scientific from $60.00 to $72.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders sold 50,979 shares of company stock worth $3,418,529 in the last quarter. 0.50% of the stock is owned by insiders.

About Boston Scientific

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.