SouthState Corp Raises Stock Position in Boston Scientific Co. (NYSE:BSX)

SouthState Corp lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,710 shares of the medical equipment provider’s stock after buying an additional 2,977 shares during the quarter. SouthState Corp’s holdings in Boston Scientific were worth $14,355,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. State Street Corp lifted its position in shares of Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after buying an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after acquiring an additional 718,515 shares during the period. Geode Capital Management LLC increased its holdings in shares of Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Boston Scientific by 5.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,475,031 shares of the medical equipment provider’s stock valued at $756,990,000 after acquiring an additional 456,654 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in shares of Boston Scientific by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider’s stock valued at $518,138,000 after acquiring an additional 1,028,977 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the transaction, the executive vice president now owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $97.26 on Monday. Boston Scientific Co. has a 52 week low of $66.16 and a 52 week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm’s 50-day simple moving average is $101.05 and its 200 day simple moving average is $91.84. The firm has a market capitalization of $143.53 billion, a PE ratio of 77.81, a P/E/G ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released 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 fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BSX shares. Royal Bank of Canada lifted their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Raymond James lifted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. TD Cowen lifted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note 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 company an “overweight” rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

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.