IFM Investors Pty Ltd Purchases 1,597 Shares of Boston Scientific Co. (NYSE:BSX)

IFM Investors Pty Ltd grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 309,327 shares of the medical equipment provider’s stock after acquiring an additional 1,597 shares during the quarter. IFM Investors Pty Ltd’s holdings in Boston Scientific were worth $25,922,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Capital World Investors lifted its position in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares during the period. Legal & General Group Plc lifted its position in shares of Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after acquiring an additional 360,793 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Boston Scientific by 15.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock valued at $540,879,000 after acquiring an additional 1,027,543 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Down 2.0 %

Shares of NYSE BSX traded down $1.75 during trading on Thursday, reaching $85.70. The company had a trading volume of 3,607,621 shares, compared to its average volume of 6,009,928. Boston Scientific Co. has a 12 month low of $49.15 and a 12 month high of $88.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $83.19 and its 200-day moving average price is $77.57. The stock has a market cap of $125.73 billion, a P/E ratio of 72.56, a PEG ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BSX shares. Evercore ISI boosted their price target on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Stifel Nicolaus boosted their price target on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Royal Bank of Canada boosted their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $92.73.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the sale, the executive vice president now owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock worth $26,714,298 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

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.