Fisher Funds Management LTD Buys Shares of 1,061,892 Boston Scientific Co. (NYSE:BSX)

Fisher Funds Management LTD purchased a new position in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,061,892 shares of the medical equipment provider’s stock, valued at approximately $94,710,000. Boston Scientific accounts for about 2.3% of Fisher Funds Management LTD’s portfolio, making the stock its 13th largest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. AustralianSuper Pty Ltd raised its holdings in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after purchasing an additional 2,615,903 shares during the period. State Street Corp increased its position in 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 worth $5,266,522,000 after buying an additional 1,389,172 shares in the last quarter. Impax Asset Management Group plc increased its position in Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after buying an additional 815,403 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after buying an additional 718,515 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Boston Scientific by 17.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,771,935 shares of the medical equipment provider’s stock valued at $399,888,000 after buying an additional 694,585 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade 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 available through this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 153,640 shares of company stock worth $15,718,289. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. UBS Group lifted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group raised their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.39.

Boston Scientific Price Performance

BSX stock opened at $104.44 on Friday. The company has a fifty day simple moving average of $97.98 and a two-hundred day simple moving average of $89.38. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $154.12 billion, a P/E ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share 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.