Boston Scientific Co. (NYSE:BSX) Position Lifted by Pitcairn Co.

Pitcairn Co. raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 14.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,648 shares of the medical equipment provider’s stock after acquiring an additional 2,579 shares during the quarter. Pitcairn Co.’s holdings in Boston Scientific were worth $1,730,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP lifted its position in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the last quarter. AustralianSuper Pty Ltd lifted its position in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after purchasing an additional 1,824,405 shares during the last quarter. Swedbank AB bought a new stake in Boston Scientific in the 1st quarter valued at about $100,113,000. Finally, Zurich Insurance Group Ltd FI bought a new stake in Boston Scientific in the 1st quarter valued at about $88,825,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 45.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 314,147 shares of company stock valued at $26,643,598 in the last ninety days. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Performance

Boston Scientific stock opened at $90.00 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The company has a market cap of $132.64 billion, a PE ratio of 74.38, a PEG ratio of 2.69 and a beta of 0.79. The company’s 50-day moving average is $85.99 and its two-hundred day moving average is $80.16.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the company posted $0.50 EPS. The company’s revenue was up 19.3% compared to the same quarter last year. Equities analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BSX shares. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. TD Cowen lifted their price objective on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Citigroup raised their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Bank of America lifted their price objective 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

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.