UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Boston Scientific Co. (NYSE:BSX) by 18.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,839,362 shares of the medical equipment provider’s stock after buying an additional 1,709,461 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Boston Scientific were worth $968,172,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Colonial Trust Co SC grew its holdings in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the period. TFC Financial Management Inc. boosted its holdings in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the last quarter. Fairway Wealth LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $36,000. Finally, Global Trust Asset Management LLC raised its position in shares of Boston Scientific by 64.5% in the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock worth $39,000 after buying an additional 171 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore ISI upped their price target on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. BTIG Research reissued a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. StockNews.com upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, April 29th. Truist Financial boosted their price target on Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $114.74.

Insider Activity at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This represents a 22.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,163 shares of company stock valued at $27,129,540. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Up 0.5%

BSX stock opened at $106.61 on Tuesday. The company has a 50 day moving average of $99.39 and a two-hundred day moving average of $96.90. The company has a market cap of $157.72 billion, a price-to-earnings ratio of 85.29, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.36. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $0.56 earnings per share. Boston Scientific’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Boston Scientific Company 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.