Boston Scientific Co. (NYSE:BSX) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 5.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,100,136 shares of the medical equipment provider’s stock after purchasing an additional 54,206 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Boston Scientific were worth $84,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. Putnam Investments LLC raised its stake in Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after buying an additional 6,859,280 shares in the last quarter. Capital World Investors raised its stake in Boston Scientific by 236.1% during the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after buying an additional 6,617,360 shares in the last quarter. Marshall Wace LLP raised its stake in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after buying an additional 3,608,158 shares in the last quarter. Capital Research Global Investors acquired a new stake in Boston Scientific during the first quarter valued at approximately $182,897,000. Finally, Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BSX. Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. BTIG Research increased their price target on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Citigroup increased their price target on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $86.65.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $83.35 on Friday. The stock has a fifty day moving average price of $79.33 and a two-hundred day moving average price of $75.25. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. The firm has a market cap of $122.28 billion, a P/E ratio of 70.04, a PEG ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89.

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

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at approximately $2,978,734.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 20,949 shares of company stock valued at $1,627,877 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

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.