Securian Asset Management Inc Increases Stake in Boston Scientific Co. (BSX)

Securian Asset Management Inc raised its position in Boston Scientific Co. (NYSE:BSX) by 0.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 144,832 shares of the medical equipment provider’s stock after buying an additional 1,231 shares during the period. Securian Asset Management Inc’s holdings in Boston Scientific were worth $5,559,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in BSX. Arrow Financial Corp acquired a new stake in shares of Boston Scientific in the 1st quarter valued at about $280,000. World Asset Management Inc increased its position in shares of Boston Scientific by 0.7% in the first quarter. World Asset Management Inc now owns 88,690 shares of the medical equipment provider’s stock valued at $3,404,000 after acquiring an additional 653 shares during the last quarter. Legacy Bridge LLC increased its position in shares of Boston Scientific by 15.3% in the first quarter. Legacy Bridge LLC now owns 3,767 shares of the medical equipment provider’s stock valued at $145,000 after acquiring an additional 500 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Boston Scientific by 825.3% during the first quarter. Assenagon Asset Management S.A. now owns 692,014 shares of the medical equipment provider’s stock worth $26,559,000 after purchasing an additional 617,226 shares during the period. Finally, Calton & Associates Inc. bought a new position in Boston Scientific during the first quarter worth about $523,000. Hedge funds and other institutional investors own 91.43% of the company’s stock.

BSX traded up $0.03 during trading on Wednesday, reaching $37.73. 3,714,100 shares of the stock traded hands, compared to its average volume of 7,725,957. The company has a current ratio of 1.39, a quick ratio of 1.12 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $51.86 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 2.21 and a beta of 0.83. Boston Scientific Co. has a 12 month low of $29.96 and a 12 month high of $41.00.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. As a group, research analysts predict that Boston Scientific Co. will post 1.55 EPS for the current fiscal year.

In related news, CFO Daniel J. Brennan sold 64,223 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.84, for a total value of $2,622,867.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Arthur C. Butcher sold 15,225 shares of the company’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $39.95, for a total transaction of $608,238.75. The disclosure for this sale can be found here. Insiders have sold 273,725 shares of company stock worth $10,950,149 in the last ninety days. Insiders own 0.66% of the company’s stock.

A number of equities analysts recently commented on BSX shares. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of Boston Scientific in a report on Wednesday, February 6th. Guggenheim restated a “buy” rating and set a $48.00 price objective on shares of Boston Scientific in a report on Friday, February 8th. SunTrust Banks restated a “buy” rating and set a $47.00 price objective on shares of Boston Scientific in a report on Friday, February 8th. Canaccord Genuity restated a “buy” rating and set a $45.00 price objective on shares of Boston Scientific in a report on Monday, February 11th. Finally, Argus boosted their price objective on Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Three equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $41.53.

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About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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