PKO Investment Management Joint Stock Co Acquires New Shares in Boston Scientific Co. (NYSE:BSX)

PKO Investment Management Joint Stock Co purchased a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,000 shares of the medical equipment provider's stock, valued at approximately $893,000.

Other institutional investors have also recently bought and sold shares of the company. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth approximately $4,887,000. Covenant Asset Management LLC acquired a new position in Boston Scientific during the fourth quarter worth approximately $3,405,000. Oak Harvest Investment Services increased its position in Boston Scientific by 262.5% during the fourth quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider's stock worth $3,642,000 after buying an additional 29,526 shares during the last quarter. Blue Trust Inc. increased its position in Boston Scientific by 43.7% during the fourth quarter. Blue Trust Inc. now owns 15,077 shares of the medical equipment provider's stock worth $1,263,000 after buying an additional 4,585 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Boston Scientific during the fourth quarter worth approximately $1,174,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BSX shares. UBS Group boosted their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Piper Sandler upped their target price on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. BTIG Research restated a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Finally, Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, April 29th. Twenty-one research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of "Buy" and a consensus target price of $116.00.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $0.58 during mid-day trading on Friday, reaching $105.08. The company had a trading volume of 10,524,691 shares, compared to its average volume of 6,427,290. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17. The firm has a market cap of $155.46 billion, a price-to-earnings ratio of 84.06, a PEG ratio of 2.79 and a beta of 0.68. The business's 50-day simple moving average is $100.29 and its 200 day simple moving average is $97.88.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping 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 company had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter last year, the business earned $0.56 earnings per share. Boston Scientific's revenue was up 20.9% on a year-over-year basis. On average, research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the sale, the executive vice president now directly owns 18,705 shares of the company's stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This trade represents a 11.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,155 shares of company stock worth $19,556,047. Company insiders own 0.50% of the company's stock.

About Boston Scientific

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.