American Century Companies Inc. Raises Stock Position in Boston Scientific Co. (NYSE:BSX)

American Century Companies Inc. grew its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,488,823 shares of the medical equipment provider's stock after purchasing an additional 925,268 shares during the period. American Century Companies Inc. owned about 0.30% of Boston Scientific worth $400,942,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TFC Financial Management Inc. boosted its holdings in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 210 shares during the period. Global Wealth Strategies & Associates raised its stake in shares of Boston Scientific by 423.7% in the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in Boston Scientific during the fourth quarter worth about $29,000. Dunhill Financial LLC boosted its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 152 shares in the last quarter. Finally, Valley National Advisers Inc. boosted its stake in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after purchasing an additional 286 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Remove Ads

Boston Scientific Stock Performance

Shares of BSX traded down $0.77 during trading hours on Wednesday, hitting $102.31. The company's stock had a trading volume of 6,645,668 shares, compared to its average volume of 5,796,517. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The company has a market cap of $151.32 billion, a price-to-earnings ratio of 81.85, a PEG ratio of 2.79 and a beta of 0.77. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business has a 50 day simple moving average of $101.99 and a two-hundred day simple moving average of $92.80.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share 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%. On average, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific 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 transaction, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company's stock, 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 have sold a total of 137,302 shares of company stock valued at $14,319,269 in the last quarter. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted 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. TD Cowen boosted their target price on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, December 12th. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Piper Sandler increased their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $108.91.

Boston Scientific 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.