Parnassus Investments LLC Purchases 1,284 Shares of Boston Scientific Co. (NYSE:BSX)

Parnassus Investments LLC raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 9.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,764 shares of the medical equipment provider’s stock after purchasing an additional 1,284 shares during the quarter. Parnassus Investments LLC’s holdings in Boston Scientific were worth $1,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BSX. Kingsview Wealth Management LLC raised its position in Boston Scientific by 4.1% in the first quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock worth $381,000 after acquiring an additional 219 shares during the period. Blair William & Co. IL increased its stake in shares of Boston Scientific by 9.3% in the 1st quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock worth $1,254,000 after purchasing an additional 1,560 shares in the last quarter. Acadian Asset Management LLC raised its holdings in Boston Scientific by 89.0% in the 1st quarter. Acadian Asset Management LLC now owns 93,258 shares of the medical equipment provider’s stock worth $6,383,000 after purchasing an additional 43,916 shares during the period. Edgestream Partners L.P. purchased a new position in Boston Scientific during the first quarter valued at $366,000. Finally, Covestor Ltd grew its holdings in Boston Scientific by 99.2% during the first quarter. Covestor Ltd now owns 1,227 shares of the medical equipment provider’s stock valued at $84,000 after purchasing an additional 611 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Monday. Truist Financial raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. BTIG Research upped their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stifel Nicolaus increased their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Evercore ISI upped their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,270 shares of company stock worth $26,196,718. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $90.45 on Tuesday. The company’s 50-day moving average price is $85.42 and its 200-day moving average price is $79.72. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.31 billion, a PE ratio of 74.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.08.

Boston Scientific (NYSE:BSX) last issued 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. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 earnings per share. On average, equities research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

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.