IFM Investors Pty Ltd Grows Position in Boston Scientific Corporation (NYSE:BSX)

IFM Investors Pty Ltd raised its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 8.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 309,327 shares of the medical equipment provider's stock after purchasing an additional 24,762 shares during the period. IFM Investors Pty Ltd's holdings in Boston Scientific were worth $31,205,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BSX. Norges Bank bought a new stake in shares of Boston Scientific in the 4th quarter valued at $1,762,522,000. Capital World Investors increased its stake 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 acquiring an additional 6,216,199 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 10.2% in the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock valued at $3,230,293,000 after acquiring an additional 3,344,571 shares in the last quarter. GAMMA Investing LLC increased its stake in Boston Scientific by 11,720.3% during the 1st quarter. GAMMA Investing LLC now owns 2,577,887 shares of the medical equipment provider's stock valued at $260,057,000 after purchasing an additional 2,556,078 shares in the last quarter. Finally, Axiom Investors LLC DE increased its stake 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 valued at $335,167,000 after purchasing an additional 2,535,007 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Boston Scientific Stock Down 0.5%

Boston Scientific stock traded down $0.57 on Monday, hitting $103.75. 5,892,140 shares of the stock traded hands, compared to its average volume of 6,663,148. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The firm has a market cap of $153.49 billion, a P/E ratio of 75.73, a price-to-earnings-growth ratio of 2.71 and a beta of 0.68. The business's fifty day simple moving average is $103.42 and its 200 day simple moving average is $100.22. Boston Scientific Corporation has a 1 year low of $71.88 and a 1 year high of $107.53.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The company's revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share. As a group, sell-side analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president directly owned 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 56,372 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total transaction of $5,799,551.36. Following the sale, the executive vice president owned 178,342 shares of the company's stock, valued at $18,347,824.96. This trade represents a 24.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 461,970 shares of company stock worth $47,755,193. 0.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Needham & Company LLC reiterated a "buy" rating and issued a $115.00 target price on shares of Boston Scientific in a research note on Wednesday, May 28th. Evercore ISI upped their target price on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. BTIG Research reissued a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Twenty-two analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $116.09.

Boston Scientific Company 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.