1,061,892 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Fisher Funds Management LTD

Fisher Funds Management LTD purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,061,892 shares of the medical equipment provider’s stock, valued at approximately $94,710,000. Boston Scientific comprises approximately 2.3% of Fisher Funds Management LTD’s investment portfolio, making the stock its 13th largest holding. Fisher Funds Management LTD owned 0.07% of Boston Scientific at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AustralianSuper Pty Ltd increased its stake in shares of Boston Scientific by 4,292.3% during the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after buying an additional 2,615,903 shares during the period. State Street Corp boosted its holdings in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Impax Asset Management Group plc increased its position in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares during the period. Wellington Management Group LLP raised its holdings in Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Boston Scientific by 17.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,771,935 shares of the medical equipment provider’s stock worth $399,888,000 after purchasing an additional 694,585 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. UBS Group upped their target price on Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James increased their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Canaccord Genuity Group increased their price objective on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. 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 has an average rating of “Moderate Buy” and an average target price of $107.39.

Boston Scientific Stock Performance

BSX stock opened at $104.44 on Friday. The stock has a market capitalization of $154.12 billion, a PE ratio of 83.55, a price-to-earnings-growth ratio of 2.79 and a beta of 0.80. The stock’s 50 day simple moving average is $97.98 and its 200 day simple moving average is $89.38. Boston Scientific Co. has a 12-month low of $65.52 and a 12-month high of $107.17. 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 (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,640 shares of company stock valued at $15,718,289 in the last 90 days. 0.50% of the stock is currently owned by insiders.

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.