Empirical Finance LLC Purchases 1,254 Shares of Boston Scientific Co. (NYSE:BSX)

Empirical Finance LLC boosted its position in Boston Scientific Co. (NYSE:BSX) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 49,639 shares of the medical equipment provider’s stock after acquiring an additional 1,254 shares during the period. Empirical Finance LLC’s holdings in Boston Scientific were worth $4,160,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Capital World Investors increased its position in shares of Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after buying an additional 6,588,256 shares during the period. Marshall Wace LLP lifted its stake in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. Capital Research Global Investors purchased a new stake in Boston Scientific in the 1st quarter worth approximately $182,897,000. AustralianSuper Pty Ltd boosted its holdings in Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after purchasing an additional 1,988,082 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BSX. Truist Financial raised their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. BTIG Research boosted their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Morgan Stanley raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Performance

Shares of BSX opened at $87.44 on Friday. The company has a market cap of $128.87 billion, a price-to-earnings ratio of 72.39, a P/E/G ratio of 2.61 and a beta of 0.79. The business’s fifty day simple moving average is $85.03 and its two-hundred day simple moving average is $79.33. Boston Scientific Co. has a 12 month low of $53.56 and a 12 month high of $89.30. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the business earned $0.50 EPS. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.