Cigna Investments Inc. New Grows Position in Boston Scientific Co. (NYSE:BSX)

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Cigna Investments Inc. New raised its stake in Boston Scientific Co. (NYSE:BSX) by 12.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,780 shares of the medical equipment provider’s stock after buying an additional 6,181 shares during the quarter. Cigna Investments Inc. New’s holdings in Boston Scientific were worth $1,551,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Oppenheimer Asset Management Inc. grew its holdings in Boston Scientific by 5.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 38,234 shares of the medical equipment provider’s stock valued at $1,044,000 after buying an additional 2,143 shares in the last quarter. Federated Investors Inc. PA grew its holdings in Boston Scientific by 12.8% in the 1st quarter. Federated Investors Inc. PA now owns 3,277,119 shares of the medical equipment provider’s stock valued at $89,530,000 after buying an additional 372,435 shares in the last quarter. BlackRock Inc. grew its holdings in Boston Scientific by 8.7% in the 1st quarter. BlackRock Inc. now owns 106,292,471 shares of the medical equipment provider’s stock valued at $2,903,912,000 after buying an additional 8,510,783 shares in the last quarter. Cannell Peter B & Co. Inc. purchased a new stake in Boston Scientific in the 1st quarter valued at $33,890,000. Finally, Systematic Financial Management LP grew its holdings in Boston Scientific by 51.3% in the 1st quarter. Systematic Financial Management LP now owns 18,000 shares of the medical equipment provider’s stock valued at $492,000 after buying an additional 6,100 shares in the last quarter. Institutional investors own 89.02% of the company’s stock.

Boston Scientific traded down $2.11, hitting $31.73, during mid-day trading on Wednesday, according to MarketBeat. 22,257,009 shares of the stock were exchanged, compared to its average volume of 8,243,987. Boston Scientific Co. has a 1-year low of $24.54 and a 1-year high of $37.30. The company has a current ratio of 0.82, a quick ratio of 0.59 and a debt-to-equity ratio of 0.68. The firm has a market cap of $47.36 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 2.45 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 25th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.34 billion. Boston Scientific had a return on equity of 25.10% and a net margin of 1.21%. Boston Scientific’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. research analysts forecast that Boston Scientific Co. will post 1.39 earnings per share for the current year.

Several analysts have issued reports on the company. Raymond James upped their target price on Boston Scientific from $32.00 to $34.00 and gave the company a “strong-buy” rating in a report on Thursday, April 26th. Zacks Investment Research upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Friday, May 11th. TheStreet cut Boston Scientific from a “b” rating to a “c” rating in a report on Monday, March 5th. Canaccord Genuity reiterated a “buy” rating and set a $36.00 price target on shares of Boston Scientific in a report on Wednesday, April 25th. Finally, ValuEngine upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.39.

In other Boston Scientific news, EVP Kevin J. Ballinger sold 31,056 shares of the stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $30.00, for a total value of $931,680.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kevin J. Ballinger sold 68,486 shares of the stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $34.12, for a total value of $2,336,742.32. The disclosure for this sale can be found here. Insiders sold a total of 206,116 shares of company stock worth $6,320,005 in the last ninety days. 0.73% of the stock is owned by corporate insiders.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. 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.

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

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