Pictet Asset Management Holding SA Buys 691,267 Shares of Boston Scientific Co. (NYSE:BSX)

Pictet Asset Management Holding SA increased its holdings in Boston Scientific Co. (NYSE:BSX) by 23.6% during the fourth quarter, HoldingsChannel reports. The fund owned 3,616,895 shares of the medical equipment provider’s stock after acquiring an additional 691,267 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Boston Scientific were worth $323,061,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kingsview Wealth Management LLC raised its stake in Boston Scientific by 5.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider’s stock valued at $500,000 after acquiring an additional 282 shares during the period. Truvestments Capital LLC purchased a new position in shares of Boston Scientific in the third quarter worth $49,000. The Manufacturers Life Insurance Company grew its stake in shares of Boston Scientific by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,120,466 shares of the medical equipment provider’s stock worth $93,895,000 after purchasing an additional 20,330 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Boston Scientific by 3.2% in the third quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider’s stock valued at $917,000 after acquiring an additional 342 shares in the last quarter. Finally, Townsquare Capital LLC lifted its holdings in Boston Scientific by 191.9% in the third quarter. Townsquare Capital LLC now owns 26,896 shares of the medical equipment provider’s stock worth $2,254,000 after buying an additional 17,683 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 1.6 %

BSX stock opened at $100.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The stock has a market capitalization of $149.01 billion, a price-to-earnings ratio of 80.59, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The firm’s fifty day simple moving average is $102.15 and its two-hundred day simple moving average is $92.93.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping 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, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on BSX shares. Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. UBS Group raised their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Morgan Stanley upped their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $108.91.

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.