Fifth Third Bancorp Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

Fifth Third Bancorp increased its holdings in Boston Scientific Co. (NYSE:BSX) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 228,556 shares of the medical equipment provider’s stock after acquiring an additional 9,610 shares during the quarter. Fifth Third Bancorp’s holdings in Boston Scientific were worth $20,415,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the 4th quarter worth approximately $415,000. Brookstone Capital Management lifted its holdings in Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Boston Scientific by 5.9% in the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares during the period. Finally, HWG Holdings LP purchased a new stake in shares of Boston Scientific in the second quarter worth $482,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $101.97 on Friday. The business’s 50 day moving average price is $92.26 and its 200-day moving average price is $85.33. Boston Scientific Co. has a fifty-two week low of $59.97 and a fifty-two week high of $102.15. The company has a market cap of $150.29 billion, a P/E ratio of 84.28, a P/E/G ratio of 2.63 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. Sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Morgan Stanley upped their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,989 shares of company stock worth $2,702,261. 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.