Boston Scientific Co. (NYSE:BSX) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,010,441 shares of the medical equipment provider’s stock after acquiring an additional 111,724 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Boston Scientific worth $168,475,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Boston Scientific by 36.2% during the third quarter. B. Riley Wealth Advisors Inc. now owns 15,553 shares of the medical equipment provider’s stock worth $1,303,000 after purchasing an additional 4,136 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Boston Scientific in the 3rd quarter worth $35,046,000. Synovus Financial Corp boosted its holdings in shares of Boston Scientific by 7.1% in the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock valued at $1,468,000 after acquiring an additional 1,167 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Boston Scientific by 8.8% during the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock worth $7,249,000 after acquiring an additional 6,990 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in Boston Scientific during the third quarter worth about $1,175,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the sale, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock worth $27,957,676 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of analyst reports. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Morgan Stanley lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Stifel Nicolaus increased their price objective on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Sanford C. Bernstein boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Bank of America upped their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $95.96.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $88.66 on Friday. Boston Scientific Co. has a one year low of $54.95 and a one year high of $91.93. The stock has a market cap of $130.67 billion, a PE ratio of 73.27, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The business’s fifty day moving average price is $88.27 and its two-hundred day moving average price is $82.17. 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) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. 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 company earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

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.