Vestcor Inc Has $3.38 Million Stake in Boston Scientific Co. (NYSE:BSX)

Vestcor Inc lifted its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 40.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,323 shares of the medical equipment provider's stock after purchasing an additional 11,600 shares during the quarter. Vestcor Inc's holdings in Boston Scientific were worth $3,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP increased its stake in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock valued at $608,349,000 after purchasing an additional 1,824,405 shares during the period. State Street Corp raised its holdings in shares of Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after buying an additional 1,389,172 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock worth $184,810,000 after buying an additional 1,091,561 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 328,157 shares of company stock valued at $27,957,676 in the last quarter. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BSX has been the topic of a number of analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Raymond James upped their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group lifted their target price on shares of Boston Scientific from $98.00 to $101.00 and gave the company a "buy" rating in a research note on Monday. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

Boston Scientific Trading Up 0.4 %

BSX traded up $0.34 during midday trading on Wednesday, reaching $90.54. 3,168,438 shares of the company were exchanged, compared to its average volume of 5,990,254. The stock has a market capitalization of $133.44 billion, a P/E ratio of 74.77, a PEG ratio of 2.65 and a beta of 0.80. Boston Scientific Co. has a one year low of $54.95 and a one year high of $91.93. The stock's 50-day simple moving average is $87.62 and its 200 day simple moving average is $81.55. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm earned $0.50 EPS. Boston Scientific's quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts forecast 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.