Bailard Inc. Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

Bailard Inc. acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 123,624 shares of the medical equipment provider’s stock, valued at approximately $7,147,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Boston Scientific by 5.6% during the 3rd quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock worth $27,353,000 after purchasing an additional 27,620 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Boston Scientific during the 4th quarter worth $5,116,000. Glenmede Trust Co. NA grew its stake in Boston Scientific by 12.1% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock worth $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. grew its stake in Boston Scientific by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares in the last quarter. Finally, HealthInvest Partners AB acquired a new position in Boston Scientific during the 4th quarter worth $3,746,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The disclosure for this sale can be found here. In the last three months, insiders sold 50,979 shares of company stock valued at $3,418,529. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on BSX shares. Oppenheimer upped their price objective on Boston Scientific from $58.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, February 1st. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. BTIG Research reaffirmed a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a research report on Friday, December 29th. Deutsche Bank Aktiengesellschaft upped their price objective on Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, UBS Group upped their price objective on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $74.00.

Boston Scientific Stock Performance

Shares of BSX stock traded up $0.51 during trading hours on Thursday, reaching $73.42. 4,501,454 shares of the company’s stock were exchanged, compared to its average volume of 6,510,800. The company has a market cap of $107.71 billion, a P/E ratio of 68.46, a price-to-earnings-growth ratio of 2.42 and a beta of 0.78. The company’s 50 day moving average is $67.53 and its two-hundred day moving average is $60.28. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. During the same period in the prior year, the business posted $0.45 EPS. Equities research analysts anticipate that Boston Scientific Co. will post 2.25 EPS 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.