AustralianSuper Pty Ltd Grows Stock Holdings in Boston Scientific Co. (NYSE:BSX)

AustralianSuper Pty Ltd boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 4,292.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,676,847 shares of the medical equipment provider’s stock after buying an additional 2,615,903 shares during the period. Boston Scientific makes up 1.1% of AustralianSuper Pty Ltd’s investment portfolio, making the stock its 21st biggest holding. AustralianSuper Pty Ltd owned approximately 0.18% of Boston Scientific worth $224,320,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Congress Asset Management Co. grew its stake in Boston Scientific by 3.2% in the 3rd quarter. Congress Asset Management Co. now owns 1,718,654 shares of the medical equipment provider’s stock valued at $144,023,000 after buying an additional 53,346 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific in the 3rd quarter valued at approximately $30,000. S.A. Mason LLC boosted its holdings in Boston Scientific by 6.1% in the 3rd quarter. S.A. Mason LLC now owns 2,335 shares of the medical equipment provider’s stock valued at $196,000 after purchasing an additional 135 shares during the period. Oak Harvest Investment Services boosted its holdings in Boston Scientific by 60.7% in the 3rd quarter. Oak Harvest Investment Services now owns 11,250 shares of the medical equipment provider’s stock valued at $943,000 after purchasing an additional 4,250 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its holdings in Boston Scientific by 18.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 54,308 shares of the medical equipment provider’s stock valued at $4,551,000 after purchasing an additional 8,518 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific 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 completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 0.5 %

Shares of BSX traded up $0.40 during trading hours on Thursday, hitting $84.39. The company had a trading volume of 1,450,116 shares, compared to its average volume of 6,072,918. The stock has a market capitalization of $123.81 billion, a price-to-earnings ratio of 70.61, a P/E/G ratio of 2.87 and a beta of 0.80. The firm has a fifty day moving average price of $83.82 and a 200-day moving average price of $78.13. Boston Scientific Co. has a 52-week low of $50.26 and a 52-week high of $88.79. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities research analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BSX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Bank of America raised their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Sanford C. Bernstein lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Mizuho lifted their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

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.