Boston Scientific Co. (NYSE:BSX) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC grew its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 153.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,387 shares of the medical equipment provider's stock after acquiring an additional 119,525 shares during the quarter. Intech Investment Management LLC's holdings in Boston Scientific were worth $16,541,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. bought a new position in Boston Scientific in the 1st quarter valued at about $366,000. Covestor Ltd boosted its stake in Boston Scientific by 99.2% during the 1st quarter. Covestor Ltd now owns 1,227 shares of the medical equipment provider's stock valued at $84,000 after purchasing an additional 611 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Boston Scientific by 20.6% during the 1st quarter. Bessemer Group Inc. now owns 17,025 shares of the medical equipment provider's stock valued at $1,166,000 after purchasing an additional 2,906 shares during the period. Lake Street Advisors Group LLC raised its stake in shares of Boston Scientific by 54.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 6,553 shares of the medical equipment provider's stock worth $449,000 after buying an additional 2,320 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of Boston Scientific by 4.1% in the first quarter. EP Wealth Advisors LLC now owns 12,552 shares of the medical equipment provider's stock valued at $860,000 after buying an additional 497 shares during the period. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a report on Monday. Stifel Nicolaus raised their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Bank of America upped their price target on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price objective on Boston Scientific from $87.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Finally, Canaccord Genuity Group boosted their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a research report on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.39.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares of the company's stock, valued at $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at $13,639,695. The trade was a 45.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

BSX opened at $90.17 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $132.90 billion, a P/E ratio of 74.52, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. The company's 50 day simple moving average is $85.71 and its 200-day simple moving average is $79.92. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.08.

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

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.

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