Pitcairn Co. Acquires 2,579 Shares of Boston Scientific Co. (NYSE:BSX)

Pitcairn Co. grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 14.3% in the third quarter, HoldingsChannel reports. The fund owned 20,648 shares of the medical equipment provider’s stock after acquiring an additional 2,579 shares during the period. Pitcairn Co.’s holdings in Boston Scientific were worth $1,730,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BSX. Advisors Asset Management Inc. boosted its position in Boston Scientific by 45.6% during the 1st quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock worth $517,000 after acquiring an additional 2,361 shares during the last quarter. LRI Investments LLC acquired a new position in Boston Scientific during the 1st quarter worth approximately $139,000. Price T Rowe Associates Inc. MD boosted its position in Boston Scientific by 13.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,182,160 shares of the medical equipment provider’s stock worth $491,907,000 after acquiring an additional 878,404 shares during the last quarter. Bamco Inc. NY boosted its position in Boston Scientific by 6.7% during the 1st quarter. Bamco Inc. NY now owns 154,000 shares of the medical equipment provider’s stock worth $10,547,000 after acquiring an additional 9,700 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC boosted its position in Boston Scientific by 8.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 16,869 shares of the medical equipment provider’s stock worth $1,155,000 after acquiring an additional 1,370 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $90.00 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.93. The stock has a market cap of $132.64 billion, a PE ratio of 74.38, a P/E/G ratio of 2.69 and a beta of 0.79. The firm has a 50 day simple moving average of $85.99 and a two-hundred day simple moving average of $80.16.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue was up 19.3% on a year-over-year basis. On average, analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 16.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,147 shares of company stock worth $26,643,598 in the last three months. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on BSX. BTIG Research increased their price objective on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Monday, November 18th. Evercore ISI increased their price objective on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $93.39.

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.