Board of the Pension Protection Fund Invests $1.02 Million in Boston Scientific Co. (NYSE:BSX)

Board of the Pension Protection Fund purchased a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,400 shares of the medical equipment provider’s stock, valued at approximately $1,018,000. Boston Scientific makes up 1.2% of Board of the Pension Protection Fund’s investment portfolio, making the stock its 22nd largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares during the last quarter. Brookstone Capital Management lifted its position in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares in the last quarter. HWG Holdings LP purchased a new stake in Boston Scientific during the 2nd quarter valued at $482,000. Principal Financial Group Inc. increased its holdings in shares of Boston Scientific by 5.9% in the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after purchasing an additional 30,636 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,989 shares of company stock valued at $2,702,261. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on BSX. Citigroup lifted their price objective on Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. TD Cowen lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a report on Friday, January 10th. Stifel Nicolaus raised their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three 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. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Boston Scientific Trading Up 1.0 %

Shares of BSX stock opened at $95.54 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The stock has a fifty day simple moving average of $90.36 and a two-hundred day simple moving average of $84.15. The firm has a market capitalization of $140.81 billion, a PE ratio of 78.96, a PEG ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $59.61 and a 52-week high of $97.13.

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

Boston Scientific Company 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.