Boston Scientific Co. (NYSE:BSX) Shares Bought by CX Institutional

CX Institutional boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 16.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 10,245 shares of the medical equipment provider’s stock after acquiring an additional 1,451 shares during the period. CX Institutional’s holdings in Boston Scientific were worth $915,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BSX. AustralianSuper Pty Ltd raised its position in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the period. State Street Corp raised 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 valued at $5,266,522,000 after buying an additional 1,389,172 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock valued at $184,810,000 after buying an additional 1,091,561 shares during the last quarter. Handelsbanken Fonder AB raised its position in shares of Boston Scientific by 68.6% in the third quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider’s stock valued at $198,724,000 after buying an additional 965,080 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Boston Scientific by 32.3% in the third quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock valued at $326,578,000 after buying an additional 951,580 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Truist Financial upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Finally, Citigroup boosted their target price on Boston Scientific from $98.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Three investment 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 company’s stock. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $97.26.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $101.97 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $92.26 and a 200 day moving average price of $85.33. The company has a market cap of $150.29 billion, a P/E ratio of 84.28, a PEG ratio of 2.63 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $59.97 and a 12 month high of $102.15.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. Sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

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.