Northwest & Ethical Investments L.P. Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

Northwest & Ethical Investments L.P. lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,428 shares of the medical equipment provider’s stock after purchasing an additional 330 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Boston Scientific were worth $6,647,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Boston Scientific in the fourth quarter valued at $190,780,000. State Street Corp increased its position in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after buying an additional 1,389,172 shares in the last quarter. Fisher Funds Management LTD purchased a new position in shares of Boston Scientific in the fourth quarter valued at $94,710,000. Fisher Asset Management LLC increased its position in shares of Boston Scientific by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after buying an additional 1,028,977 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after buying an additional 718,515 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BSX shares. JPMorgan Chase & Co. raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft upgraded Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Friday, January 10th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Morgan Stanley lifted their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Finally, Citigroup lifted their price objective on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Stock Performance

NYSE BSX opened at $101.55 on Friday. The firm has a market capitalization of $149.86 billion, a P/E ratio of 81.24, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business’s 50-day simple moving average is $101.57 and its 200-day simple moving average is $92.22.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the sale, the executive vice president now owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock valued at $14,319,269 in the last three months. Corporate insiders own 0.50% of the company’s stock.

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.