NS Partners Ltd Grows Stake in Boston Scientific Co. (NYSE:BSX)

NS Partners Ltd grew its holdings in Boston Scientific Co. (NYSE:BSX) by 2.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 368,531 shares of the medical equipment provider’s stock after acquiring an additional 8,980 shares during the quarter. Boston Scientific comprises 1.3% of NS Partners Ltd’s investment portfolio, making the stock its 26th biggest holding. NS Partners Ltd’s holdings in Boston Scientific were worth $30,883,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BSX. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $28,000. Andra AP fonden acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at about $29,000. Lynx Investment Advisory acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at about $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 309,270 shares of company stock worth $26,196,718 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Monday. Evercore ISI increased their price objective on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Wells Fargo & Company increased their price objective on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Bank of America increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $90.30 on Wednesday. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.08. The stock has a market capitalization of $133.09 billion, a P/E ratio of 74.63, a PEG ratio of 2.56 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average price is $85.56 and its 200 day moving average price is $79.84.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

About Boston Scientific

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.