Zurcher Kantonalbank Zurich Cantonalbank Buys 20,726 Shares of Boston Scientific Co. (NYSE:BSX)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 1,292,426 shares of the medical equipment provider’s stock after acquiring an additional 20,726 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boston Scientific were worth $115,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BSX. Raymond James Financial Inc. bought a new stake in Boston Scientific during the 4th quarter worth about $190,780,000. State Street Corp lifted its position in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Fisher Funds Management LTD acquired a new position in Boston Scientific during the 4th quarter valued at about $94,710,000. Fisher Asset Management LLC lifted its position in Boston Scientific by 21.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after purchasing an additional 1,028,977 shares during the period. Finally, Impax Asset Management Group plc lifted its position in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company’s stock, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 137,322 shares of company stock valued at $14,321,068. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX opened at $99.15 on Monday. The stock has a market capitalization of $146.33 billion, a P/E ratio of 79.32, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $65.52 and a twelve month high of $107.17. The company has a 50 day moving average of $100.45 and a 200-day moving average of $91.27. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Truist Financial increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Raymond James increased their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Barclays increased their price target on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, TD Cowen increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

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.