The Manufacturers Life Insurance Company Has $104.52 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

The Manufacturers Life Insurance Company grew its holdings in Boston Scientific Co. (NYSE:BSX) by 4.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,170,149 shares of the medical equipment provider’s stock after acquiring an additional 49,683 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Boston Scientific were worth $104,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mechanics Bank Trust Department acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $415,000. Highland Capital Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $4,887,000. Covenant Asset Management LLC acquired a new stake in shares of Boston Scientific in the fourth quarter valued at approximately $3,405,000. Brookstone Capital Management raised its holdings in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. raised its holdings in shares of Boston Scientific by 31.7% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after purchasing an additional 4,702 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

NYSE BSX opened at $102.17 on Tuesday. The firm has a 50-day moving average price of $98.62 and a two-hundred day moving average price of $95.03. Boston Scientific Co. has a 12-month low of $70.97 and a 12-month high of $107.17. The company has a market capitalization of $151.12 billion, a P/E ratio of 81.74, a P/E/G ratio of 2.79 and a beta of 0.73. 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 (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $0.56 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BSX shares. BTIG Research reiterated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Evercore ISI raised their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Finally, Stifel Nicolaus raised their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $114.52.

Insiders Place Their Bets

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred 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 owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. The trade was a 19.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,009 shares of company stock worth $14,407,381 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

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.