DT Investment Partners LLC Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

DT Investment Partners LLC raised its holdings in Boston Scientific Co. (NYSE:BSX) by 65.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 380 shares of the medical equipment provider’s stock after purchasing an additional 150 shares during the period. DT Investment Partners LLC’s holdings in Boston Scientific were worth $32,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BSX. Assenagon Asset Management S.A. lifted its stake in Boston Scientific by 32.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,897,117 shares of the medical equipment provider’s stock valued at $326,578,000 after buying an additional 951,580 shares in the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Boston Scientific by 0.5% in the third quarter. IFM Investors Pty Ltd now owns 309,327 shares of the medical equipment provider’s stock worth $25,922,000 after acquiring an additional 1,597 shares during the last quarter. Jackson Wealth Management LLC acquired a new stake in shares of Boston Scientific during the third quarter valued at $333,000. Hennion & Walsh Asset Management Inc. increased its position in Boston Scientific by 18.8% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 99,722 shares of the medical equipment provider’s stock worth $8,355,000 after purchasing an additional 15,769 shares in the last quarter. Finally, Great Lakes Retirement Inc. raised its stake in Boston Scientific by 40.0% in the 3rd quarter. Great Lakes Retirement Inc. now owns 23,319 shares of the medical equipment provider’s stock valued at $1,954,000 after purchasing an additional 6,667 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BSX. Citigroup raised their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Stifel Nicolaus increased their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price objective on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Truist Financial increased their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $84.73 on Friday. The firm has a fifty day simple moving average of $83.34 and a 200-day simple moving average of $77.62. The company has a market capitalization of $124.31 billion, a PE ratio of 71.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $49.15 and a twelve month high of $88.79. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period last year, the firm earned $0.50 earnings per share. The company’s revenue was up 19.3% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.