Boston Scientific Co. (NYSE:BSX) Position Lifted by Railway Pension Investments Ltd

Railway Pension Investments Ltd lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 73.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 367,600 shares of the medical equipment provider’s stock after purchasing an additional 155,100 shares during the period. Railway Pension Investments Ltd’s holdings in Boston Scientific were worth $25,177,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. Pinnacle Associates Ltd. boosted its position in Boston Scientific by 2.0% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock valued at $512,000 after purchasing an additional 148 shares during the period. KCM Investment Advisors LLC increased its position in Boston Scientific by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 150 shares during the period. Hazlett Burt & Watson Inc. grew its position in Boston Scientific by 24.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 826 shares of the medical equipment provider’s stock valued at $57,000 after buying an additional 160 shares in the last quarter. BSW Wealth Partners boosted its holdings in shares of Boston Scientific by 2.3% in the fourth quarter. BSW Wealth Partners now owns 7,398 shares of the medical equipment provider’s stock valued at $428,000 after acquiring an additional 165 shares in the last quarter. Finally, Allstate Corp increased its stake in shares of Boston Scientific by 2.9% during the fourth quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock valued at $343,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research reports. Mizuho boosted their price objective on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Truist Financial lifted their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. The Goldman Sachs Group started coverage on Boston Scientific in a research report on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Boston Scientific Stock Down 0.9 %

Shares of NYSE BSX traded down $0.66 during mid-day trading on Friday, reaching $74.50. 5,500,518 shares of the company traded hands, compared to its average volume of 6,960,298. The company’s fifty day moving average is $76.42 and its two-hundred day moving average is $70.84. 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 fifty-two week low of $48.35 and a fifty-two week high of $79.43. The stock has a market cap of $109.30 billion, a PE ratio of 62.61, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company earned $0.53 earnings per share. Boston Scientific’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Transactions at Boston Scientific

In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the sale, the executive vice president now directly owns 31,422 shares of the company’s stock, valued at $2,329,627.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the sale, the executive vice president now owns 31,422 shares in the company, valued at $2,329,627.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,837 shares of company stock worth $3,884,563. Company 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.