Headland Capital LLC Invests $7.94 Million in Boston Scientific Co. (NYSE:BSX)

Headland Capital LLC purchased a new position in Boston Scientific Co. (NYSE:BSX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 88,886 shares of the medical equipment provider's stock, valued at approximately $7,939,000. Boston Scientific comprises 2.7% of Headland Capital LLC's holdings, making the stock its 13th largest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 10.2% in the fourth 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock valued at $2,729,371,000 after purchasing an additional 1,041,329 shares in the last quarter. Capital World Investors boosted its position in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, Norges Bank bought a new stake in Boston Scientific in the 4th quarter worth about $1,762,522,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific Price Performance

BSX stock traded up $1.75 during trading on Friday, reaching $104.94. The company's stock had a trading volume of 7,363,218 shares, compared to its average volume of 6,346,832. The company's fifty day moving average is $98.59 and its 200-day moving average is $95.37. Boston Scientific Co. has a 1 year low of $71.82 and a 1 year high of $107.17. The company has a market capitalization of $155.21 billion, a P/E ratio of 83.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last posted 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 period in the previous year, the firm earned $0.56 EPS. The firm's revenue was up 20.9% compared to the same quarter last year. On average, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BSX shares. Argus set a $130.00 price target on shares of Boston Scientific in a report on Tuesday, February 18th. Barclays raised their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Royal Bank of Canada boosted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Needham & Company LLC raised their price target on Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Truist Financial upped their price objective on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Twenty-three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $114.52.

Insider Buying and Selling

In related news, CFO Daniel J. Brennan sold 67,333 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction 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 transaction, the senior vice president now owns 36,193 shares of the company's stock, valued at $3,441,592.37. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 138,009 shares of company stock worth $14,407,381. 0.50% of the stock is owned by insiders.

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.