Ethic Inc. Raises Holdings in Boston Scientific Co. (NYSE:BSX)

Ethic Inc. increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 24.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 241,929 shares of the medical equipment provider’s stock after purchasing an additional 46,946 shares during the period. Ethic Inc.’s holdings in Boston Scientific were worth $21,609,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Boston Scientific during the 4th quarter valued at $1,762,522,000. Capital World Investors boosted its holdings in shares of Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after buying an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP grew its holdings in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE increased its position in shares of Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Boston Scientific by 18.0% in the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock worth $1,303,681,000 after purchasing an additional 2,221,790 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSX has been the subject of several research reports. Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Argus set a $130.00 price objective on shares of Boston Scientific in a research note on Tuesday, February 18th. BTIG Research reissued a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Robert W. Baird upped their price target on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Twenty-three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average price target of $114.52.

Boston Scientific Price Performance

BSX stock opened at $103.32 on Friday. The stock has a market cap of $152.86 billion, a price-to-earnings ratio of 82.66, a PEG ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The business has a 50 day moving average price of $98.70 and a 200 day moving average price of $95.83.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same period in the previous year, the company earned $0.56 earnings per share. Boston Scientific’s quarterly revenue was up 20.9% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the completion of the sale, the director now directly owns 24,398 shares of the company’s stock, valued at $2,573,501.04. The trade was a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 300,497 shares of company stock valued at $31,056,815 in the last three months. 0.50% of the stock is currently owned by company insiders.

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.