UniSuper Management Pty Ltd Acquires 550,439 Shares of Boston Scientific Co. (NYSE:BSX)

UniSuper Management Pty Ltd grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 129.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 975,961 shares of the medical equipment provider’s stock after purchasing an additional 550,439 shares during the quarter. Boston Scientific accounts for approximately 0.6% of UniSuper Management Pty Ltd’s investment portfolio, making the stock its 24th biggest holding. UniSuper Management Pty Ltd’s holdings in Boston Scientific were worth $87,173,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of BSX. Kingsview Wealth Management LLC grew its holdings in Boston Scientific by 5.0% in the third quarter. Kingsview Wealth Management LLC now owns 5,970 shares of the medical equipment provider’s stock worth $500,000 after purchasing an additional 282 shares during the period. Truvestments Capital LLC bought a new position in shares of Boston Scientific during the 3rd quarter worth about $49,000. The Manufacturers Life Insurance Company grew its stake in shares of Boston Scientific by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,120,466 shares of the medical equipment provider’s stock valued at $93,895,000 after buying an additional 20,330 shares during the period. D.A. Davidson & CO. increased its position in Boston Scientific by 3.2% in the 3rd quarter. D.A. Davidson & CO. now owns 10,945 shares of the medical equipment provider’s stock valued at $917,000 after buying an additional 342 shares in the last quarter. Finally, Avestar Capital LLC raised its stake in Boston Scientific by 10.3% during the 3rd quarter. Avestar Capital LLC now owns 12,397 shares of the medical equipment provider’s stock worth $1,039,000 after buying an additional 1,158 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares in the company, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 137,302 shares of company stock valued at $14,319,269 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Truist Financial boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Barclays upped their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Royal Bank of Canada upped their target price on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Price Performance

BSX opened at $102.31 on Thursday. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The firm has a 50-day moving average of $102.10 and a 200 day moving average of $92.87. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market cap of $151.32 billion, a P/E ratio of 81.85, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current year.

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.