Zions Bancorporation National Association UT Invests $483,000 in Boston Scientific Corporation (NYSE:BSX)

Zions Bancorporation National Association UT bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,786 shares of the medical equipment provider’s stock, valued at approximately $483,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BSX. Capital World Investors increased its position in Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. GAMMA Investing LLC grew its position in Boston Scientific by 11,720.3% in the first quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider’s stock valued at $260,057,000 after acquiring an additional 2,556,078 shares in the last quarter. Northern Trust Corp grew its position in Boston Scientific by 18.0% in the fourth quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock valued at $1,303,681,000 after acquiring an additional 2,221,790 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Boston Scientific by 18.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,839,362 shares of the medical equipment provider’s stock valued at $968,172,000 after acquiring an additional 1,709,461 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Boston Scientific by 1.3% in the first quarter. Vanguard Group Inc. now owns 134,588,729 shares of the medical equipment provider’s stock valued at $13,577,311,000 after acquiring an additional 1,697,945 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $104.63, for a total transaction of $1,811,459.19. Following the sale, the executive vice president directly owned 23,600 shares in the company, valued at $2,469,268. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $106.99, for a total transaction of $310,377.99. Following the sale, the director owned 2,081 shares in the company, valued at approximately $222,646.19. This represents a 58.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

BSX stock opened at $103.22 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.82 and a current ratio of 1.37. The stock has a market capitalization of $152.95 billion, a price-to-earnings ratio of 61.44, a PEG ratio of 2.48 and a beta of 0.66. Boston Scientific Corporation has a 1 year low of $75.00 and a 1 year high of $108.94. The stock’s fifty day moving average is $103.54 and its two-hundred day moving average is $102.07.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The firm’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. On average, research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BSX. Evercore ISI increased their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Raymond James Financial increased their price objective on shares of Boston Scientific from $121.00 to $124.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 24th. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Jefferies Financial Group reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, July 21st. Finally, Leerink Partnrs upgraded Boston Scientific to a “strong-buy” rating in a research note on Monday, June 16th. Two research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $117.50.

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.