Boston Scientific Co. (NYSE:BSX) Stake Increased by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators increased its stake in Boston Scientific Co. (NYSE:BSX) by 19.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 916 shares of the medical equipment provider’s stock after buying an additional 151 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Boston Scientific were worth $82,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department acquired a new position in Boston Scientific in the fourth quarter worth $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific in the fourth quarter worth $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific in the fourth quarter worth $3,405,000. Finally, Brookstone Capital Management boosted its holdings in Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. UBS Group lifted their price objective on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Raymond James lifted their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. TD Cowen lifted their price objective 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. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $107.39.

Boston Scientific Trading Down 0.9 %

Shares of NYSE BSX opened at $104.44 on Friday. The stock has a market cap of $154.12 billion, a price-to-earnings ratio of 83.55, a PEG ratio of 2.79 and a beta of 0.80. The business has a 50 day simple moving average of $97.98 and a 200 day simple moving average of $89.38. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results 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%. On average, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

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