The Manufacturers Life Insurance Company Increases Holdings in Boston Scientific Co. (NYSE:BSX)

The Manufacturers Life Insurance Company increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,120,466 shares of the medical equipment provider’s stock after acquiring an additional 20,330 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Boston Scientific were worth $93,895,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares in the last quarter. BDF Gestion purchased a new position in Boston Scientific during the second quarter worth approximately $3,570,000. Cetera Advisor Networks LLC raised its position in Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock valued at $13,796,000 after purchasing an additional 21,252 shares during the period. Brookstone Capital Management raised its position in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares during the period. Finally, HWG Holdings LP purchased a new stake in Boston Scientific in the second quarter valued at $482,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. Truist Financial lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Wednesday. Citigroup lifted their price objective on 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 Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Up 0.6 %

BSX opened at $90.76 on Thursday. The business has a 50 day moving average price of $86.43 and a two-hundred day moving average price of $80.51. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.76 billion, a PE ratio of 75.01, a P/E/G ratio of 2.63 and a beta of 0.79. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93.

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, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 15.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s 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 completion of the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 328,157 shares of company stock worth $27,894,270. Company insiders own 0.50% of the company’s stock.

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.