Allianz SE Purchases Shares of 2,770 Boston Scientific Co. (NYSE:BSX)

Allianz SE bought a new stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,770 shares of the medical equipment provider's stock, valued at approximately $248,000.

Several other large investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Boston Scientific during the 4th quarter valued at about $1,762,522,000. Raymond James Financial Inc. bought a new stake in Boston Scientific during the 4th quarter worth approximately $190,780,000. Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. State Street Corp boosted its position in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Finally, Fisher Funds Management LTD purchased a new stake in shares of Boston Scientific in the fourth quarter worth $94,710,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Down 8.9 %

Shares of Boston Scientific stock traded down $8.73 on Friday, reaching $89.78. The company had a trading volume of 22,572,180 shares, compared to its average volume of 6,188,157. The firm's 50-day moving average price is $101.90 and its two-hundred day moving average price is $93.63. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The firm has a market cap of $132.78 billion, a price-to-earnings ratio of 71.82, a P/E/G ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

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Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (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, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BSX. UBS Group lifted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Royal Bank of Canada increased their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. 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 note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $108.91.

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 Monday, February 3rd. The stock was 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. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock valued at $13,948,476 in the last quarter. 0.50% of the stock is owned by insiders.

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.