The Manufacturers Life Insurance Company Purchases 20,330 Shares of Boston Scientific Co. (NYSE:BSX)

The Manufacturers Life Insurance Company raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,120,466 shares of the medical equipment provider’s stock after purchasing an additional 20,330 shares during the period. The Manufacturers Life Insurance Company owned about 0.08% of Boston Scientific worth $93,895,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific during the 2nd quarter worth $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific during the 3rd quarter worth $28,000. Andra AP fonden purchased a new stake in shares of Boston Scientific during the 2nd quarter worth $29,000. Lynx Investment Advisory purchased a new stake in shares of Boston Scientific during the 2nd quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific during the 3rd quarter worth $30,000. 89.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on BSX shares. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price target on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Raymond James increased their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley increased their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock worth $27,894,270 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 0.6 %

Shares of BSX opened at $90.76 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12 month low of $53.93 and a 12 month high of $91.93. The stock’s 50 day moving average is $86.43 and its two-hundred day moving average is $80.51. The firm has a market cap of $133.76 billion, a P/E ratio of 75.01, a PEG ratio of 2.63 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company earned $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.