Boston Scientific Co. (NYSE:BSX) Shares Purchased by Man Group plc

Man Group plc lifted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 30.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,059 shares of the medical equipment provider's stock after purchasing an additional 62,662 shares during the quarter. Man Group plc's holdings in Boston Scientific were worth $24,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parnassus Investments LLC raised its stake in shares of Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after acquiring an additional 97 shares during the period. Baldwin Investment Management LLC increased its holdings in Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider's stock valued at $781,000 after purchasing an additional 102 shares in the last quarter. Evergreen Capital Management LLC boosted its position in Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after acquiring an additional 106 shares during the last quarter. PDS Planning Inc raised its position in shares of Boston Scientific by 1.5% in the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after buying an additional 113 shares in the last quarter. Finally, Adero Partners LLC increased its position in Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after buying an additional 120 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Needham & Company LLC lifted their target price on shares of Boston Scientific from $113.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Truist Financial upped their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Finally, Wells Fargo & Company upped their price target on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $114.74.

Boston Scientific Stock Performance

Shares of BSX traded up $0.57 during midday trading on Monday, reaching $106.61. 7,933,850 shares of the stock were exchanged, compared to its average volume of 6,369,172. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business's 50-day moving average price is $99.18 and its 200 day moving average price is $96.74. The company has a market capitalization of $157.72 billion, a price-to-earnings ratio of 85.29, a PEG ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Boston Scientific's revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This represents a 11.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the transaction, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 265,820 shares of company stock worth $27,406,958 in the last quarter. 0.50% of the stock is owned by company insiders.

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.