PGGM Investments Raises Position in Boston Scientific Co. (NYSE:BSX)

PGGM Investments raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 47.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,025 shares of the medical equipment provider’s stock after buying an additional 61,413 shares during the quarter. PGGM Investments’ holdings in Boston Scientific were worth $17,152,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Boston Scientific by 4.4% during 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 purchasing an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department purchased a new position in Boston Scientific in the 4th quarter worth approximately $415,000. Highland Capital Management LLC bought a new position in shares of Boston Scientific in the 4th quarter worth $4,887,000. Covenant Asset Management LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $3,405,000. Finally, Brookstone Capital Management raised its position in shares of Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

BSX opened at $96.42 on Thursday. The stock’s 50 day moving average price is $100.80 and its 200-day moving average price is $91.52. Boston Scientific Co. has a 52-week low of $65.52 and a 52-week high of $107.17. The stock has a market capitalization of $142.29 billion, a PE ratio of 77.14, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. 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 issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research analyst reports. Argus set a $130.00 target price on Boston Scientific in a research note on Tuesday, February 18th. Raymond James increased their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group boosted their target price on Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock valued at $14,319,269 over the last three months. Corporate insiders own 0.50% of the company’s stock.

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.