Intech Investment Management LLC Buys 181,220 Shares of Boston Scientific Co. (NYSE:BSX)

Intech Investment Management LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 91.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 378,607 shares of the medical equipment provider’s stock after purchasing an additional 181,220 shares during the quarter. Intech Investment Management LLC’s holdings in Boston Scientific were worth $33,817,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its holdings in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP increased its stake in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Geode Capital Management LLC raised its holdings in Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after buying an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Boston Scientific by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock valued at $756,990,000 after buying an additional 456,654 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its holdings in shares of Boston Scientific by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after buying an additional 1,028,977 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Monday, March 3rd. Piper Sandler increased their price objective on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Canaccord Genuity Group lifted their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.91.

Boston Scientific Price Performance

Boston Scientific stock opened at $99.02 on Tuesday. The company has a market capitalization of $146.14 billion, a price-to-earnings ratio of 79.22, a PEG ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12 month low of $66.16 and a 12 month high of $107.17. The stock’s 50 day moving average is $101.21 and its 200-day moving average is $91.97.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Boston Scientific

In related news, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the completion of the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction on Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.