Russell Investments Group Ltd. Grows Position in Boston Scientific Corporation (NYSE:BSX)

Russell Investments Group Ltd. lifted its stake in Boston Scientific Corporation (NYSE:BSX) by 20.6% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,321,992 shares of the medical equipment provider’s stock after buying an additional 225,678 shares during the quarter. Russell Investments Group Ltd.’s holdings in Boston Scientific were worth $133,159,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Brighton Jones LLC increased its position in Boston Scientific by 0.8% during the fourth quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock valued at $2,445,000 after acquiring an additional 226 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Boston Scientific by 40.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after acquiring an additional 21,173 shares during the period. Highview Capital Management LLC DE lifted its stake in Boston Scientific by 6.2% in the fourth quarter. Highview Capital Management LLC DE now owns 24,507 shares of the medical equipment provider’s stock worth $2,189,000 after acquiring an additional 1,439 shares during the period. Rockefeller Capital Management L.P. lifted its stake in Boston Scientific by 7.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 148,074 shares of the medical equipment provider’s stock worth $13,191,000 after acquiring an additional 10,110 shares during the period. Finally, Sagespring Wealth Partners LLC purchased a new stake in Boston Scientific in the fourth quarter worth about $909,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.4%

BSX opened at $102.77 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm has a market cap of $152.27 billion, a P/E ratio of 61.17, a PEG ratio of 2.48 and a beta of 0.66. Boston Scientific Corporation has a 52 week low of $75.44 and a 52 week high of $108.94. The business’s fifty day simple moving average is $103.52 and its 200 day simple moving average is $102.07.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%. The company’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period last year, the business posted $0.62 EPS. As a group, equities research analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on BSX shares. Morgan Stanley increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. Truist Financial upped their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, July 24th. Robert W. Baird upped their price objective on shares of Boston Scientific from $117.00 to $123.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an “outperform” rating on shares of Boston Scientific in a report on Thursday, July 24th. Finally, Leerink Partners assumed coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 price target for the company. Two analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $117.50.

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $104.63, for a total value of $5,231,500.00. Following the completion of the transaction, the executive vice president owned 178,342 shares in the company, valued at approximately $18,659,923.46. This trade represents a 21.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $106.03, for a total value of $424,120.00. Following the transaction, the director owned 18,479 shares of the company’s stock, valued at $1,959,328.37. This represents a 17.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 345,029 shares of company stock worth $35,976,603. Insiders own 0.50% of the company’s stock.

About Boston Scientific

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.