Boston Scientific Co. (NYSE:BSX) Shares Bought by Treasurer of the State of North Carolina

Treasurer of the State of North Carolina grew its stake in Boston Scientific Co. (NYSE:BSX) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 665,490 shares of the medical equipment provider’s stock after acquiring an additional 2,560 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Boston Scientific were worth $59,442,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BSX. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP lifted its holdings in 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 valued at $3,230,293,000 after acquiring an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC grew its position in Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock worth $2,729,371,000 after acquiring an additional 1,041,329 shares during the period. Norges Bank acquired a new stake in Boston Scientific during the fourth quarter worth $1,762,522,000. Finally, Franklin Resources Inc. raised its position in Boston Scientific by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock valued at $1,477,307,000 after purchasing an additional 832,386 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $104.97, for a total value of $685,244.16. Following the transaction, the executive vice president now owns 26,449 shares in the company, valued at $2,776,351.53. The trade was a 19.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the sale, the director now directly owns 24,398 shares of the company’s stock, valued at $2,573,501.04. The trade was a 32.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,183 shares of company stock worth $13,948,476. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Performance

Shares of BSX stock opened at $96.86 on Thursday. The stock’s 50-day moving average is $100.95 and its two-hundred day moving average is $93.89. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The firm has a market cap of $143.26 billion, a price-to-earnings ratio of 77.49, a PEG ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating 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%. Analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Raymond James upped their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Barclays lifted their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Piper Sandler upped their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Truist Financial boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, TD Cowen raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

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.