Public Sector Pension Investment Board Raises Position in Boston Scientific Co. (NYSE:BSX)

Public Sector Pension Investment Board increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 2.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 881,247 shares of the medical equipment provider’s stock after purchasing an additional 24,193 shares during the period. Public Sector Pension Investment Board’s holdings in Boston Scientific were worth $67,865,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Precision Wealth Strategies LLC purchased a new position in shares of Boston Scientific in the 4th quarter valued at approximately $956,000. Aveo Capital Partners LLC increased its stake in Boston Scientific by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock valued at $742,000 after purchasing an additional 171 shares in the last quarter. TrinityPoint Wealth LLC raised its holdings in shares of Boston Scientific by 5.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 12,546 shares of the medical equipment provider’s stock worth $725,000 after buying an additional 697 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Boston Scientific by 14.0% during the fourth quarter. Clearbridge Investments LLC now owns 6,237 shares of the medical equipment provider’s stock worth $361,000 after buying an additional 767 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in shares of Boston Scientific by 6.0% during the fourth quarter. D.A. Davidson & CO. now owns 9,380 shares of the medical equipment provider’s stock valued at $542,000 after buying an additional 529 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 20,949 shares of company stock worth $1,627,877. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.3 %

Shares of NYSE:BSX opened at $83.92 on Monday. The business’s 50 day moving average price is $78.72 and its 200-day moving average price is $74.73. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89. The firm has a market capitalization of $123.12 billion, a price-to-earnings ratio of 70.52, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. On average, equities research analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on BSX shares. Argus lifted their price target on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Truist Financial upped their price objective on shares of Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. TD Cowen increased their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Canaccord Genuity Group boosted their target price on shares of Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.65.

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.