Boston Scientific Corporation $BSX Stock Position Boosted by Evelyn Partners Investment Management LLP

Evelyn Partners Investment Management LLP raised its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 168,771 shares of the medical equipment provider’s stock after buying an additional 26,883 shares during the period. Evelyn Partners Investment Management LLP’s holdings in Boston Scientific were worth $10,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Boston Scientific by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after acquiring an additional 1,436,550 shares in the last quarter. State Street Corp increased its stake in shares of Boston Scientific by 1.4% during the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock valued at $6,278,422,000 after acquiring an additional 920,495 shares during the period. Capital World Investors raised its holdings in Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock worth $2,588,953,000 after purchasing an additional 502,627 shares in the last quarter. Norges Bank acquired a new stake in Boston Scientific in the fourth quarter worth approximately $2,199,395,000. Finally, Morgan Stanley lifted its position in Boston Scientific by 10.8% in the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after purchasing an additional 2,246,308 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

NYSE BSX opened at $45.56 on Tuesday. Boston Scientific Corporation has a 1 year low of $42.20 and a 1 year high of $109.50. The business’s fifty day moving average is $47.00 and its two-hundred day moving average is $63.47. The stock has a market capitalization of $67.72 billion, a P/E ratio of 19.06, a P/E/G ratio of 0.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90.

Boston Scientific declared that its board has authorized a share repurchase plan on Monday, May 18th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director David C. Habiger bought 2,250 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $55.92 per share, with a total value of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cheryl Pegus bought 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the acquisition, the director owned 1,770 shares of the company’s stock, valued at $99,987.30. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 9,800 shares of company stock worth $554,012 in the last three months. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

BSX has been the topic of several research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $65.00 price target on shares of Boston Scientific in a research report on Friday, June 12th. Robert W. Baird set a $70.00 price objective on Boston Scientific in a report on Thursday, May 28th. The Goldman Sachs Group set a $71.00 target price on Boston Scientific in a research note on Thursday, May 28th. Royal Bank Of Canada lowered their target price on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Mizuho dropped their price target on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.64.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.