Intech Investment Management LLC Buys 119,525 Shares of Boston Scientific Co. (NYSE:BSX)

Intech Investment Management LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 153.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 197,387 shares of the medical equipment provider’s stock after buying an additional 119,525 shares during the quarter. Intech Investment Management LLC’s holdings in Boston Scientific were worth $16,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Boston Scientific by 41.4% in the third quarter. Citizens Financial Group Inc. RI now owns 5,039 shares of the medical equipment provider’s stock worth $422,000 after purchasing an additional 1,475 shares during the period. Moran Wealth Management LLC raised its stake in Boston Scientific by 414.3% in the third quarter. Moran Wealth Management LLC now owns 199,001 shares of the medical equipment provider’s stock valued at $16,676,000 after purchasing an additional 160,311 shares in the last quarter. Stonebridge Financial Planning Group LLC bought a new stake in Boston Scientific during the third quarter worth about $545,000. Finally, Darwin Wealth Management LLC acquired a new stake in Boston Scientific during the third quarter worth about $2,065,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BSX shares. JPMorgan Chase & Co. upped their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays boosted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a report on Thursday, August 22nd. Sanford C. Bernstein lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Citigroup increased their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company increased their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Insider Activity

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

Boston Scientific Trading Down 0.2 %

NYSE BSX opened at $90.17 on Thursday. The stock’s 50-day simple moving average is $85.71 and its two-hundred day simple moving average is $79.92. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.08. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $132.90 billion, a price-to-earnings ratio of 74.52, a PEG ratio of 2.56 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its earnings results 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 net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter last year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. Research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal 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.