AustralianSuper Pty Ltd Purchases 2,615,903 Shares of Boston Scientific Co. (NYSE:BSX)

AustralianSuper Pty Ltd raised its position in Boston Scientific Co. (NYSE:BSX) by 4,292.3% during the third quarter, Holdings Channel reports. The fund owned 2,676,847 shares of the medical equipment provider’s stock after acquiring an additional 2,615,903 shares during the period. Boston Scientific comprises approximately 1.1% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 21st biggest position. AustralianSuper Pty Ltd’s holdings in Boston Scientific were worth $224,320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BSX. Eagle Bay Advisors LLC increased its position in shares of Boston Scientific by 542.1% during the 1st 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 purchased a new stake in shares of Boston Scientific during the 1st quarter valued at about $25,000. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the 3rd quarter valued at about $28,000. Finally, Andra AP fonden purchased a new stake in shares of Boston Scientific during the 2nd quarter valued at about $29,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded up $0.40 during trading hours on Thursday, reaching $84.39. The company’s stock had a trading volume of 1,450,116 shares, compared to its average volume of 6,072,918. The stock has a market cap of $123.81 billion, a P/E ratio of 70.61, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a one year low of $50.26 and a one year high of $88.79. The firm has a 50 day moving average price of $83.82 and a 200-day moving average price of $78.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 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 the consensus estimate of $4.04 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 EPS. On average, analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Robert W. Baird upped their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays increased their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Mizuho increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Evercore ISI increased their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.