Price T Rowe Associates Inc. MD Buys 695,000 Shares of Boston Scientific Co. (NYSE:BSX)

Price T Rowe Associates Inc. MD boosted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 8.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,946,379 shares of the medical equipment provider's stock after buying an additional 695,000 shares during the period. Price T Rowe Associates Inc. MD owned 0.61% of Boston Scientific worth $799,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. TFC Financial Management Inc. boosted its position in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Global Wealth Strategies & Associates boosted its holdings in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock worth $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth about $29,000. Valley National Advisers Inc. boosted its holdings in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock worth $35,000 after buying an additional 286 shares during the period. Finally, Fairway Wealth LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth about $36,000. Institutional investors own 89.07% of the company's stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company's stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Vance R. Brown sold 4,826 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock valued at $14,407,381 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Boston Scientific Stock Performance

Shares of BSX traded up $0.43 during trading hours on Tuesday, reaching $102.61. 1,647,273 shares of the company traded hands, compared to its average volume of 6,344,670. The stock's fifty day moving average is $98.62 and its 200 day moving average is $95.03. The stock has a market cap of $151.77 billion, a P/E ratio of 82.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. 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 1-year low of $70.97 and a 1-year high of $107.17.

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 analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. The firm's revenue for the quarter was up 20.9% on a year-over-year basis. Equities research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on BSX shares. UBS Group raised their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Robert W. Baird increased their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. BTIG Research reissued a "buy" rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Needham & Company LLC increased their price target on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific currently has a consensus 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.