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

AIA Group Ltd increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 2,067.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,312 shares of the medical equipment provider’s stock after purchasing an additional 91,868 shares during the period. AIA Group Ltd’s holdings in Boston Scientific were worth $8,603,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BSX. Norges Bank bought a new stake in shares of Boston Scientific during the 4th quarter worth approximately $1,762,522,000. Wellington Management Group LLP grew its stake in Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Boston Scientific during the fourth quarter worth approximately $190,780,000. Vanguard Group Inc. raised its stake in shares of Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after acquiring an additional 1,600,062 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

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

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate 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, sell-side analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several research reports. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company increased their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. TD Cowen boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $108.91.

Insider Activity

In other news, EVP John Bradley Sorenson sold 1,201 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total transaction of $127,678.31. Following the completion of the transaction, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific 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.