PGGM Investments Acquires 10,366 Shares of Boston Scientific Co. (NYSE:BSX)

PGGM Investments raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 117,794 shares of the medical equipment provider’s stock after purchasing an additional 10,366 shares during the quarter. PGGM Investments’ holdings in Boston Scientific were worth $9,071,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC grew its stake in shares of Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after acquiring an additional 131 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in shares of Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after acquiring an additional 143 shares in the last quarter. Pinnacle Associates Ltd. grew its position in Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after buying an additional 148 shares during the period. Transcend Capital Advisors LLC grew its position in Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after buying an additional 148 shares during the period. Finally, KCM Investment Advisors LLC grew its position in Boston Scientific by 1.7% during the first quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock valued at $632,000 after buying an additional 150 shares during the period. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX traded up $0.50 on Wednesday, reaching $76.42. The company had a trading volume of 3,620,335 shares, compared to its average volume of 6,246,466. The business has a 50 day simple moving average of $76.36 and a 200 day simple moving average of $71.71. The company has a market cap of $112.12 billion, a price-to-earnings ratio of 64.22, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $79.43.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the transaction, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The disclosure for this sale can be found here. Insiders have sold 34,960 shares of company stock worth $2,638,984 over the last ninety days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of several research reports. Truist Financial increased their price target on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley increased their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Citigroup increased their price target on shares of Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Barclays upped their price objective on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Finally, Needham & Company LLC upped their price objective on shares of Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Two equities research 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.76.

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.