Prudential PLC Acquires 11,911 Shares of Boston Scientific Co. (NYSE:BSX)

Prudential PLC raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 31.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,395 shares of the medical equipment provider’s stock after acquiring an additional 11,911 shares during the period. Prudential PLC’s holdings in Boston Scientific were worth $4,412,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Boston Scientific in the 4th quarter worth approximately $1,762,522,000. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. Axiom Investors LLC DE increased its position in Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after acquiring an additional 2,535,007 shares during the last quarter. Raymond James Financial Inc. bought a new position in Boston Scientific in the fourth quarter valued at about $190,780,000. Finally, Vanguard Group Inc. boosted its position in Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,183 shares of company stock valued at $13,948,476. 0.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSX. Barclays increased their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Piper Sandler boosted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, TD Cowen boosted their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Stock Down 8.9 %

Shares of BSX opened at $89.78 on Friday. The stock has a market capitalization of $132.78 billion, a price-to-earnings ratio of 71.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The business’s 50 day simple moving average is $101.90 and its 200-day simple moving average is $93.63. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17.

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 net margin of 11.07% and a return on equity of 17.80%. As a group, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal 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.