PGGM Investments Buys 61,413 Shares of Boston Scientific Co. (NYSE:BSX)

PGGM Investments boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 47.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 192,025 shares of the medical equipment provider’s stock after buying an additional 61,413 shares during the period. PGGM Investments’ holdings in Boston Scientific were worth $17,152,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. TFC Financial Management Inc. increased its holdings in shares of Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares in the last quarter. Dunhill Financial LLC grew its position in Boston Scientific by 86.4% during the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its stake in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares in the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific in the fourth quarter worth about $29,000. Finally, Valley National Advisers Inc. lifted its stake in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 286 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BSX shares. Wells Fargo & Company raised their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Stifel Nicolaus upped their price target on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Argus set a $130.00 target price on Boston Scientific in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $108.91.

Insider Activity

In other Boston Scientific news, CFO Daniel J. Brennan sold 15,087 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at $25,369,256.57. This represents a 5.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares in the company, valued at approximately $3,179,416.38. This represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 137,302 shares of company stock worth $14,319,269 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

NYSE BSX opened at $96.42 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12 month low of $65.52 and a 12 month high of $107.17. The stock has a market cap of $142.29 billion, a price-to-earnings ratio of 77.14, a PEG ratio of 2.79 and a beta of 0.77. The company’s 50 day moving average is $100.80 and its two-hundred day moving average is $91.52.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. As a group, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Boston Scientific 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.