The Manufacturers Life Insurance Company Has $104.52 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

The Manufacturers Life Insurance Company raised its holdings in Boston Scientific Co. (NYSE:BSX) by 4.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,170,149 shares of the medical equipment provider’s stock after buying an additional 49,683 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Boston Scientific worth $104,518,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. Passumpsic Savings Bank acquired a new stake in Boston Scientific in the 3rd quarter valued at approximately $3,015,000. World Investment Advisors LLC grew its holdings in Boston Scientific by 50.9% in the 3rd quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock valued at $979,000 after buying an additional 3,939 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Boston Scientific in the 3rd quarter valued at approximately $1,175,000. Tidal Investments LLC grew its holdings in shares of Boston Scientific by 8.8% during the 3rd quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock worth $7,249,000 after purchasing an additional 6,990 shares in the last quarter. Finally, Synovus Financial Corp increased its position in shares of Boston Scientific by 7.1% during the third quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock valued at $1,468,000 after purchasing an additional 1,167 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.3 %

Shares of NYSE BSX opened at $102.17 on Tuesday. The firm has a market capitalization of $151.12 billion, a PE ratio of 81.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. 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 $70.97 and a 1 year high of $107.17. The firm’s 50-day moving average is $98.62 and its 200-day moving average is $95.03.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.56 EPS. Equities analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BSX. Wells Fargo & Company boosted their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Finally, Stifel Nicolaus boosted their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $114.52.

Insider Activity at Boston Scientific

In related news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were 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 owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock worth $14,407,381 in the last ninety days. Company insiders own 0.50% of the company’s stock.

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.