Acadian Asset Management LLC Acquires 43,916 Shares of Boston Scientific Co. (NYSE:BSX)

Acadian Asset Management LLC raised its holdings in Boston Scientific Co. (NYSE:BSX) by 89.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,258 shares of the medical equipment provider’s stock after purchasing an additional 43,916 shares during the quarter. Acadian Asset Management LLC’s holdings in Boston Scientific were worth $6,383,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after acquiring an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after acquiring an additional 550,490 shares during the last quarter. Norges Bank bought a new stake in shares of Boston Scientific during the fourth quarter worth $930,626,000. Putnam Investments LLC raised its position in shares of Boston Scientific by 110.5% during the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after acquiring an additional 6,859,280 shares during the last quarter. Finally, Vontobel Asset Management Inc. raised its position in shares of Boston Scientific by 10.2% during the fourth quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock worth $668,472,000 after acquiring an additional 1,015,140 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada increased their target price on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Robert W. Baird increased their target price on Boston Scientific from $79.00 to $84.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. BTIG Research increased their target price on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $82.00 target price on shares of Boston Scientific in a research note on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.29.

Insider Activity

In other news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $73.29, for a total value of $719,561.22. Following the sale, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,259 shares of company stock worth $5,344,014. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX traded up $0.79 during mid-day trading on Monday, hitting $78.35. 3,780,828 shares of the stock were exchanged, compared to its average volume of 6,163,194. The stock has a market capitalization of $114.95 billion, a price-to-earnings ratio of 65.18, a price-to-earnings-growth ratio of 2.67 and a beta of 0.78. The firm’s 50-day simple moving average is $76.21 and its 200 day simple moving average is $69.84. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $78.98.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current fiscal year.

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.