Schroder Investment Management Group Purchases 1,281,005 Shares of Boston Scientific Co. (NYSE:BSX)

Schroder Investment Management Group lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 20.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,482,062 shares of the medical equipment provider’s stock after acquiring an additional 1,281,005 shares during the period. Boston Scientific makes up approximately 0.6% of Schroder Investment Management Group’s portfolio, making the stock its 29th biggest position. Schroder Investment Management Group owned approximately 0.51% of Boston Scientific worth $668,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its stake in Boston Scientific by 9.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,591,958 shares of the medical equipment provider’s stock valued at $499,474,000 after buying an additional 486,920 shares during the period. L & S Advisors Inc increased its stake in shares of Boston Scientific by 21.1% in the 4th quarter. L & S Advisors Inc now owns 98,710 shares of the medical equipment provider’s stock valued at $8,817,000 after acquiring an additional 17,191 shares in the last quarter. Allianz SE acquired a new position in shares of Boston Scientific during the 4th quarter valued at $248,000. Intrust Bank NA boosted its stake in Boston Scientific by 7.1% during the fourth quarter. Intrust Bank NA now owns 11,972 shares of the medical equipment provider’s stock worth $1,069,000 after acquiring an additional 795 shares in the last quarter. Finally, Allstate Corp acquired a new stake in Boston Scientific in the fourth quarter worth $3,907,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. TD Cowen boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Truist Financial raised their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Royal Bank of Canada upped their price target on Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, 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. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $108.91.

Boston Scientific Price Performance

NYSE BSX opened at $99.29 on Friday. 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 company has a market cap of $146.86 billion, a PE ratio of 79.43, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The firm’s 50-day simple moving average is $102.16 and its two-hundred day simple moving average is $93.11.

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%. Research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total value of $685,244.16. Following the sale, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is currently 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.