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 stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 11,400 shares of the medical equipment provider's stock, valued at approximately $1,018,000. Boston Scientific comprises 1.2% of Board of the Pension Protection Fund's portfolio, making the stock its 22nd biggest position.

Other hedge funds have also bought and sold shares of the company. BOKF NA raised its holdings in shares of Boston Scientific by 14.0% in the 2nd quarter. BOKF NA now owns 3,065 shares of the medical equipment provider's stock worth $236,000 after purchasing an additional 377 shares during the period. Parallel Advisors LLC lifted its holdings in shares of Boston Scientific by 15.3% in the second quarter. Parallel Advisors LLC now owns 11,790 shares of the medical equipment provider's stock worth $908,000 after buying an additional 1,562 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Boston Scientific during the 2nd quarter valued at $203,000. J.W. Cole Advisors Inc. increased its holdings in shares of Boston Scientific by 9.2% in the second quarter. J.W. Cole Advisors Inc. now owns 3,989 shares of the medical equipment provider's stock worth $307,000 after purchasing an additional 336 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Boston Scientific in the second quarter worth $484,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Performance

Shares of NYSE BSX traded up $1.22 during trading on Wednesday, reaching $96.87. 5,328,843 shares of the company traded hands, compared to its average volume of 5,361,992. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The firm has a 50 day simple moving average of $90.36 and a 200-day simple moving average of $84.15. Boston Scientific Co. has a 52-week low of $59.61 and a 52-week high of $97.36. The stock has a market capitalization of $142.77 billion, a PE ratio of 80.06, a P/E/G ratio of 2.67 and a beta of 0.80.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company's quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS. Equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of the business's stock in a transaction on Thursday, November 21st. The shares were 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 of the company's stock, valued at $3,610,038.74. The trade was a 11.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,989 shares of company stock valued at $2,702,261. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BSX shares. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Citigroup increased their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the company a "buy" rating in a research report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on Boston Scientific from $98.00 to $100.00 and gave the stock an "overweight" rating in a report on Wednesday, December 11th. Finally, Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research note on Monday, December 9th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $97.26.

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.