Pacer Advisors Inc. lifted its holdings in Boston Scientific Co. (NYSE:BSX – Free Report) by 11.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,600 shares of the medical equipment provider’s stock after purchasing an additional 10,075 shares during the period. Pacer Advisors Inc.’s holdings in Boston Scientific were worth $5,279,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Moneta Group Investment Advisors LLC increased its position in shares of Boston Scientific by 112,306.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock worth $863,475,000 after acquiring an additional 18,645,058 shares in the last quarter. Norges Bank purchased a new position in shares of Boston Scientific in the fourth quarter worth approximately $632,520,000. Steadfast Capital Management LP purchased a new position in shares of Boston Scientific in the fourth quarter worth approximately $138,969,000. Arrowstreet Capital Limited Partnership increased its position in shares of Boston Scientific by 65.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,430,814 shares of the medical equipment provider’s stock worth $240,531,000 after acquiring an additional 2,157,849 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its position in shares of Boston Scientific by 173.4% in the first quarter. Great Lakes Advisors LLC now owns 3,158,722 shares of the medical equipment provider’s stock worth $158,031,000 after acquiring an additional 2,003,259 shares in the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on BSX shares. Needham & Company LLC reissued a “buy” rating and issued a $61.00 target price on shares of Boston Scientific in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $58.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer boosted their price objective on shares of Boston Scientific from $58.00 to $59.00 in a research report on Friday, July 28th. Piper Sandler boosted their price objective on shares of Boston Scientific from $58.00 to $62.00 in a research report on Thursday, July 6th. Finally, UBS Group boosted their price objective on shares of Boston Scientific from $63.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.10.
Insider Transactions at Boston Scientific
In related news, EVP Arthur C. Butcher sold 6,600 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $50.40, for a total transaction of $332,640.00. Following the completion of the transaction, the executive vice president now directly owns 11,396 shares in the company, valued at approximately $574,358.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Michael F. Mahoney sold 113,355 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $53.91, for a total transaction of $6,110,968.05. Following the completion of the transaction, the chief executive officer now directly owns 1,498,922 shares in the company, valued at approximately $80,806,885.02. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 6,600 shares of the company’s stock in a transaction on Monday, August 21st. The shares were sold at an average price of $50.40, for a total transaction of $332,640.00. Following the transaction, the executive vice president now owns 11,396 shares of the company’s stock, valued at $574,358.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,635 shares of company stock worth $11,566,176. 0.71% of the stock is owned by insiders.
Boston Scientific Price Performance
Shares of Boston Scientific stock opened at $53.60 on Friday. The firm has a fifty day simple moving average of $52.35 and a 200-day simple moving average of $51.77. The company has a current ratio of 1.29, a quick ratio of 0.80 and a debt-to-equity ratio of 0.46. Boston Scientific Co. has a 1-year low of $37.74 and a 1-year high of $55.38. The stock has a market capitalization of $78.48 billion, a price-to-earnings ratio of 89.33, a PEG ratio of 2.12 and a beta of 0.78.
Boston Scientific (NYSE:BSX – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.04. Boston Scientific had a net margin of 6.81% and a return on equity of 15.16%. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the previous year, the company earned $0.44 earnings per share. Boston Scientific’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that Boston Scientific Co. will post 1.99 earnings per share for the current year.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.