Allstate Corp Invests $3.91 Million in Boston Scientific Co. (NYSE:BSX)

Allstate Corp purchased a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 43,744 shares of the medical equipment provider's stock, valued at approximately $3,907,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. lifted its holdings in Boston Scientific by 166.0% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,067 shares of the medical equipment provider's stock valued at $185,000 after acquiring an additional 1,290 shares during the last quarter. RiverFront Investment Group LLC lifted its stake in shares of Boston Scientific by 18.6% in the 4th quarter. RiverFront Investment Group LLC now owns 3,581 shares of the medical equipment provider's stock valued at $320,000 after purchasing an additional 561 shares during the last quarter. DnB Asset Management AS grew its holdings in shares of Boston Scientific by 76.2% during the 4th quarter. DnB Asset Management AS now owns 460,272 shares of the medical equipment provider's stock worth $41,111,000 after purchasing an additional 198,985 shares during the period. Level Four Advisory Services LLC raised its holdings in Boston Scientific by 9.9% in the 4th quarter. Level Four Advisory Services LLC now owns 8,429 shares of the medical equipment provider's stock valued at $753,000 after buying an additional 761 shares during the period. Finally, Orion Portfolio Solutions LLC lifted its position in Boston Scientific by 7.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 30,580 shares of the medical equipment provider's stock valued at $2,731,000 after buying an additional 2,065 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other news, EVP John Bradley Sorenson sold 4,119 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock valued at $14,319,269 over the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Shares of BSX traded down $0.55 during mid-day trading on Wednesday, hitting $100.69. The company's stock had a trading volume of 4,408,697 shares, compared to its average volume of 6,067,358. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The stock's 50-day moving average is $102.21 and its two-hundred day moving average is $93.43. The firm has a market capitalization of $148.93 billion, a PE ratio of 80.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Ratings Changes

BSX has been the topic of a number of research analyst reports. Piper Sandler boosted their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Canaccord Genuity Group upped their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Royal Bank of Canada increased their target price on Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, TD Cowen raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.