Public Sector Pension Investment Board Has $76.15 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Public Sector Pension Investment Board boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 908,647 shares of the medical equipment provider’s stock after acquiring an additional 27,400 shares during the period. Public Sector Pension Investment Board’s holdings in Boston Scientific were worth $76,145,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of BSX. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the 2nd quarter worth about $26,000. Values First Advisors Inc. bought a new stake in Boston Scientific in the third quarter valued at about $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the 3rd quarter worth approximately $30,000. Capital Performance Advisors LLP acquired a new position in Boston Scientific during the third quarter worth $30,000. Finally, Andra AP fonden acquired a new stake in shares of Boston Scientific during the 2nd quarter worth about $29,000. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock worth $27,894,270 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX opened at $90.76 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $133.76 billion, a P/E ratio of 75.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.79. The stock’s 50-day moving average price is $86.43 and its two-hundred day moving average price is $80.51. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93.

Boston Scientific (NYSE:BSX) last issued 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. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.50 earnings per share. On average, equities analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BSX shares. BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Bank of America raised their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Mizuho upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upped their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.