State Street Corp Buys 1,389,172 Shares of Boston Scientific Co. (NYSE:BSX)

State Street Corp boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,846,328 shares of the medical equipment provider’s stock after purchasing an additional 1,389,172 shares during the quarter. State Street Corp owned about 4.26% of Boston Scientific worth $5,266,522,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the 2nd quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in Boston Scientific during the 3rd quarter valued at approximately $28,000. Andra AP fonden bought a new stake in Boston Scientific during the 2nd quarter valued at approximately $29,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in Boston Scientific during the 3rd quarter valued at approximately $30,000. Finally, Capital Performance Advisors LLP bought a new stake in Boston Scientific during the 3rd quarter valued at approximately $30,000. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. BTIG Research lifted their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Raymond James lifted their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price objective on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada lifted their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Trading Up 0.4 %

Shares of NYSE:BSX opened at $90.86 on Thursday. The business’s 50 day simple moving average is $87.12 and its 200 day simple moving average is $81.09. The company has a market capitalization of $133.90 billion, a P/E ratio of 75.09, a P/E/G ratio of 2.66 and a beta of 0.80. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the company earned $0.50 EPS. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock valued at $27,957,676 in the last three months. Insiders own 0.50% of the company’s stock.

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.