First Trust Direct Indexing L.P. Raises Stock Holdings in Boston Scientific Co. (NYSE:BSX)

First Trust Direct Indexing L.P. raised its stake in Boston Scientific Co. (NYSE:BSX) by 18.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,308 shares of the medical equipment provider’s stock after purchasing an additional 8,518 shares during the period. First Trust Direct Indexing L.P.’s holdings in Boston Scientific were worth $4,551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Capital World Investors grew its stake in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Legal & General Group Plc boosted its position in Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Boston Scientific by 15.0% in the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock valued at $540,879,000 after purchasing an additional 1,027,543 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the transaction, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 316,253 shares of company stock valued at $26,714,298 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BSX shares. Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Bank of America increased their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Mizuho lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised their target price on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Trading Down 2.7 %

Shares of BSX traded down $2.30 during midday trading on Wednesday, hitting $82.26. The stock had a trading volume of 3,484,048 shares, compared to its average volume of 6,054,360. The business has a 50-day simple moving average of $83.71 and a two-hundred day simple moving average of $78.09. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a fifty-two week low of $50.26 and a fifty-two week high of $88.79. The firm has a market cap of $120.68 billion, a P/E ratio of 71.06, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

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 analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. 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 firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current 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.