UniSuper Management Pty Ltd Acquires 550,439 Shares of Boston Scientific Co. (NYSE:BSX)

UniSuper Management Pty Ltd increased its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 129.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 975,961 shares of the medical equipment provider's stock after buying an additional 550,439 shares during the period. Boston Scientific accounts for approximately 0.6% of UniSuper Management Pty Ltd's investment portfolio, making the stock its 24th biggest holding. UniSuper Management Pty Ltd owned about 0.07% of Boston Scientific worth $87,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC increased its position in shares of Boston Scientific by 5.0% during the third quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider's stock worth $500,000 after acquiring an additional 282 shares in the last quarter. Truvestments Capital LLC bought a new stake in Boston Scientific during the 3rd quarter worth approximately $49,000. The Manufacturers Life Insurance Company raised its stake in shares of Boston Scientific by 1.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,120,466 shares of the medical equipment provider's stock worth $93,895,000 after purchasing an additional 20,330 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Boston Scientific by 3.2% in the third quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider's stock worth $917,000 after purchasing an additional 342 shares during the last quarter. Finally, Avestar Capital LLC lifted its holdings in shares of Boston Scientific by 10.3% in the third quarter. Avestar Capital LLC now owns 12,397 shares of the medical equipment provider's stock valued at $1,039,000 after purchasing an additional 1,158 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

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Boston Scientific Stock Performance

Shares of Boston Scientific stock traded down $1.51 during trading hours on Friday, reaching $99.29. The company had a trading volume of 7,402,670 shares, compared to its average volume of 6,051,507. The firm has a market cap of $146.86 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. 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 fifty day simple moving average of $102.16 and a 200 day simple moving average of $93.04.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. On average, analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the sale, the chief financial officer now owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,302 shares of company stock valued at $14,319,269. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Barclays upped their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Morgan Stanley lifted their target price 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. Finally, StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.