KBC Group NV Has $195.99 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

KBC Group NV lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 24.3% during the third quarter, HoldingsChannel.com reports. The firm owned 2,338,801 shares of the medical equipment provider’s stock after purchasing an additional 457,383 shares during the period. Boston Scientific accounts for 0.6% of KBC Group NV’s portfolio, making the stock its 24th biggest position. KBC Group NV’s holdings in Boston Scientific were worth $195,991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC boosted its position in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific in the second quarter valued at $26,000. Values First Advisors Inc. acquired a new position in Boston Scientific during the third quarter worth $28,000. Finally, Andra AP fonden acquired a new position in Boston Scientific during the second quarter worth $29,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $88.77 on Thursday. The firm’s 50 day simple moving average is $84.89 and its 200 day simple moving average is $79.26. The firm has a market capitalization of $130.83 billion, a price-to-earnings ratio of 73.36, a P/E/G ratio of 2.61 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1 year low of $53.56 and a 1 year high of $89.30.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock valued at $26,196,718 in the last 90 days. 0.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BSX. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price target on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Raymond James raised their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

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.