Geode Capital Management LLC Purchases 480,729 Shares of Boston Scientific Co. (NYSE:BSX)

Geode Capital Management LLC raised its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,584,841 shares of the medical equipment provider's stock after purchasing an additional 480,729 shares during the quarter. Geode Capital Management LLC owned 2.01% of Boston Scientific worth $2,469,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of Boston Scientific by 6.7% during the second quarter. Sequoia Financial Advisors LLC now owns 26,295 shares of the medical equipment provider's stock valued at $2,025,000 after acquiring an additional 1,661 shares during the period. Meyer Handelman Co. bought a new position in shares of Boston Scientific in the second quarter valued at approximately $242,000. Diversified Trust Co boosted its holdings in shares of Boston Scientific by 13.4% in the 2nd quarter. Diversified Trust Co now owns 5,627 shares of the medical equipment provider's stock worth $433,000 after acquiring an additional 666 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Boston Scientific by 7.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 71,068 shares of the medical equipment provider's stock valued at $5,473,000 after purchasing an additional 5,044 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in Boston Scientific by 10.0% in the second quarter. Great Valley Advisor Group Inc. now owns 39,381 shares of the medical equipment provider's stock worth $3,033,000 after purchasing an additional 3,577 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Mizuho increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Citigroup raised their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Raymond James upped their price objective on Boston Scientific from $91.00 to $94.00 and gave the stock a "strong-buy" rating in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.52.

Boston Scientific Stock Performance

NYSE BSX traded up $1.48 on Tuesday, hitting $90.20. 4,535,394 shares of the stock were exchanged, compared to its average volume of 6,001,291. The business's fifty day moving average is $87.50 and its 200 day moving average is $81.44. Boston Scientific Co. has a 52 week low of $54.86 and a 52 week high of $91.93. The company has a market capitalization of $132.94 billion, a PE ratio of 74.55, a P/E/G ratio of 2.65 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

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

Insider Transactions at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now directly owns 1,572,096 shares of the company's stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now owns 29,308 shares in the company, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is owned by insiders.

Boston Scientific Company 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.