Northern Trust Corp Increases Stake in Boston Scientific Co. (NYSE:BSX)

Northern Trust Corp lifted its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 18.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,595,627 shares of the medical equipment provider's stock after acquiring an additional 2,221,790 shares during the period. Northern Trust Corp owned approximately 0.99% of Boston Scientific worth $1,303,681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Parnassus Investments LLC boosted its stake in Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after buying an additional 97 shares during the last quarter. Evergreen Capital Management LLC increased its position in Boston Scientific by 1.7% in the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock worth $565,000 after purchasing an additional 106 shares during the last quarter. PDS Planning Inc raised its stake in Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock valued at $668,000 after purchasing an additional 113 shares in the last quarter. Adero Partners LLC lifted its position in Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after purchasing an additional 120 shares during the last quarter. Finally, Tradition Wealth Management LLC grew its stake in shares of Boston Scientific by 2.2% in the 4th quarter. Tradition Wealth Management LLC now owns 5,510 shares of the medical equipment provider's stock worth $492,000 after buying an additional 121 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $1.75 during trading on Friday, hitting $104.94. The stock had a trading volume of 7,363,206 shares, compared to its average volume of 6,351,862. 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 Co. has a 12-month low of $70.97 and a 12-month high of $107.17. The stock has a market capitalization of $155.21 billion, a price-to-earnings ratio of 83.95, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The stock has a 50-day simple moving average of $98.51 and a two-hundred day simple moving average of $95.24.

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 analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. On average, equities research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on BSX shares. Needham & Company LLC increased their price target on Boston Scientific from $113.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research note on Thursday, February 6th. StockNews.com raised Boston Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday. Evercore ISI increased their target price on Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $114.52.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company's stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific 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 completion of the transaction, the senior vice president now directly owns 36,193 shares of the company's stock, 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. Over the last ninety days, insiders sold 138,009 shares of company stock valued at $14,407,381. 0.50% of the stock is owned by company insiders.

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.