Congress Asset Management Co. Purchases 3,538 Shares of Boston Scientific Co. (NYSE:BSX)

Congress Asset Management Co. increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,722,192 shares of the medical equipment provider’s stock after purchasing an additional 3,538 shares during the quarter. Boston Scientific accounts for approximately 1.0% of Congress Asset Management Co.’s investment portfolio, making the stock its 18th largest position. Congress Asset Management Co.’s holdings in Boston Scientific were worth $153,826,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp lifted its holdings in shares of 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 worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after acquiring an additional 480,729 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in shares of Boston Scientific by 17.5% in the third quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock worth $457,138,000 after acquiring an additional 815,403 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,010 shares of the 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 transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $633,916.74. Following the completion of the transaction, the executive vice president now owns 29,308 shares in the company, valued at approximately $2,660,580.24. This represents a 19.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,326 shares of company stock worth $8,673,948 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $106.20 on Friday. The stock has a market capitalization of $156.51 billion, a price-to-earnings ratio of 84.96, a PEG ratio of 2.79 and a beta of 0.80. Boston Scientific Co. has a 52-week low of $65.33 and a 52-week high of $107.17. The stock’s 50 day moving average price is $96.44 and its two-hundred day moving average price is $88.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 18.11% and a net margin of 11.07%. On average, equities analysts predict that Boston Scientific Co. will post 2.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. TD Cowen increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Bank of America upped their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus upped their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Raymond James upped their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company upped their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. One 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 stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $107.39.

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.