Boston Scientific Co. (NYSE:BSX) Stake Increased by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 94.3% during the fourth quarter, HoldingsChannel reports. The fund owned 14,126 shares of the medical equipment provider’s stock after acquiring an additional 6,854 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Boston Scientific were worth $1,262,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Brooklyn FI LLC bought a new position in shares of Boston Scientific during the fourth quarter worth about $642,000. Xponance Inc. boosted its holdings in shares of Boston Scientific by 5.1% in the 4th quarter. Xponance Inc. now owns 219,139 shares of the medical equipment provider’s stock valued at $19,573,000 after buying an additional 10,681 shares during the period. Intech Investment Management LLC raised its position in shares of Boston Scientific by 91.8% during the 4th quarter. Intech Investment Management LLC now owns 378,607 shares of the medical equipment provider’s stock worth $33,817,000 after purchasing an additional 181,220 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Boston Scientific during the fourth quarter valued at $10,749,000. Finally, Evoke Wealth LLC boosted its stake in Boston Scientific by 26.3% during the 4th quarter. Evoke Wealth LLC now owns 3,541 shares of the medical equipment provider’s stock valued at $316,000 after purchasing an additional 738 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares in the company, valued at approximately $25,369,256.57. The trade was a 5.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock worth $14,319,269 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial raised their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

Boston Scientific stock opened at $100.77 on Thursday. The firm has a market capitalization of $148.72 billion, a P/E ratio of 80.62, a PEG ratio of 2.79 and a beta of 0.77. The business has a 50-day moving average of $101.45 and a 200-day moving average of $92.15. 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 1 year low of $66.80 and a 1 year high of $107.17.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

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.