Ethic Inc. Acquires 46,946 Shares of Boston Scientific Co. (NYSE:BSX)

Ethic Inc. raised its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 24.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,929 shares of the medical equipment provider's stock after buying an additional 46,946 shares during the quarter. Ethic Inc.'s holdings in Boston Scientific were worth $21,609,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of BSX. Norges Bank acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $1,762,522,000. Capital World Investors grew its position in shares of Boston Scientific by 28.7% in the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Wellington Management Group LLP increased its holdings in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Axiom Investors LLC DE increased its holdings in Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Boston Scientific by 18.0% during the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider's stock worth $1,303,681,000 after purchasing an additional 2,221,790 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

BSX traded down $0.42 during trading hours on Friday, reaching $102.87. The company's stock had a trading volume of 3,609,449 shares, compared to its average volume of 6,343,075. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company's 50-day moving average is $98.68 and its 200-day moving average is $96.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market cap of $152.19 billion, a PE ratio of 82.30, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

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

Insider Activity at Boston Scientific

In related news, EVP John Bradley Sorenson sold 6,389 shares of the firm's stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $105.06, for a total value of $671,228.34. Following the transaction, the executive vice president now owns 24,293 shares in the company, valued at approximately $2,552,222.58. This trade represents a 20.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 300,497 shares of company stock worth $31,056,815. Company insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

BSX has been the subject of a number of research reports. Evercore ISI increased their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wells Fargo & Company boosted their target price on Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Barclays boosted their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Piper Sandler boosted their target price on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, BTIG Research restated a "buy" rating and issued a $124.00 target price on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and an average price target of $114.52.

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.