Board of the Pension Protection Fund Takes $1.02 Million Position in Boston Scientific Co. (NYSE:BSX)

Board of the Pension Protection Fund bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,400 shares of the medical equipment provider’s stock, valued at approximately $1,018,000. Boston Scientific comprises approximately 1.2% of Board of the Pension Protection Fund’s investment portfolio, making the stock its 22nd biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSX. Global Wealth Strategies & Associates boosted its position in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC purchased a new position in Boston Scientific during the 4th quarter valued at $29,000. Dunhill Financial LLC grew its position in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 152 shares during the last quarter. Values First Advisors Inc. purchased a new stake in Boston Scientific in the third quarter worth $28,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Boston Scientific during the third quarter worth $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research report on Friday, January 10th. Finally, Truist Financial increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $97.26.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the sale, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock worth $2,702,261 over the last quarter. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 1.0 %

BSX stock opened at $95.54 on Wednesday. The stock has a market capitalization of $140.81 billion, a PE ratio of 78.96, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $59.61 and a 52 week high of $97.13. The firm has a 50 day moving average of $90.36 and a 200 day moving average of $84.15.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 EPS. Sell-side analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current 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.