Russell Investments Group Ltd. Has $36.55 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Russell Investments Group Ltd. reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 23.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,950 shares of the medical equipment provider’s stock after selling 208,229 shares during the period. Russell Investments Group Ltd.’s holdings in Boston Scientific were worth $36,552,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Hawaii increased its holdings in shares of Boston Scientific by 216.3% during the second quarter. Bank of Hawaii now owns 21,905 shares of the medical equipment provider’s stock worth $1,185,000 after buying an additional 14,979 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Boston Scientific by 65.4% during the second quarter. Private Advisor Group LLC now owns 25,056 shares of the medical equipment provider’s stock worth $1,344,000 after buying an additional 9,908 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Boston Scientific by 6.7% during the second quarter. Cetera Advisors LLC now owns 15,358 shares of the medical equipment provider’s stock worth $831,000 after buying an additional 958 shares in the last quarter. Meitav Investment House Ltd. acquired a new position in shares of Boston Scientific during the second quarter worth $1,504,000. Finally, Tekla Capital Management LLC increased its holdings in shares of Boston Scientific by 16.2% during the second quarter. Tekla Capital Management LLC now owns 657,790 shares of the medical equipment provider’s stock worth $35,580,000 after buying an additional 91,800 shares in the last quarter. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

BSX stock opened at $54.34 on Friday. The stock has a market capitalization of $79.61 billion, a PE ratio of 66.27, a price-to-earnings-growth ratio of 2.14 and a beta of 0.77. The company’s 50-day moving average is $52.11 and its 200-day moving average is $52.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.90. Boston Scientific Co. has a 1 year low of $42.49 and a 1 year high of $55.38.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Boston Scientific had a net margin of 8.93% and a return on equity of 15.46%. The company had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter in the prior year, the firm earned $0.43 EPS. The business’s revenue was up 11.3% on a year-over-year basis. Equities research analysts expect that Boston Scientific Co. will post 2.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the subject of several research analyst reports. Evercore ISI reiterated an “outperform” rating and set a $60.00 price target on shares of Boston Scientific in a report on Tuesday, September 19th. Citigroup reissued a “buy” rating and issued a $63.00 price objective on shares of Boston Scientific in a research note on Thursday, September 21st. UBS Group boosted their price objective on shares of Boston Scientific from $63.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Robert W. Baird boosted their price objective on shares of Boston Scientific from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Finally, Canaccord Genuity Group boosted their price objective on shares of Boston Scientific from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.55.

Insider Buying and Selling

In related news, CEO Michael F. Mahoney sold 113,356 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $52.51, for a total value of $5,952,323.56. Following the sale, the chief executive officer now owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 113,356 shares of the stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $52.51, for a total value of $5,952,323.56. Following the completion of the sale, the chief executive officer now owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 113,355 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $53.91, for a total transaction of $6,110,968.05. Following the completion of the sale, the chief executive officer now owns 1,498,922 shares of the company’s stock, valued at approximately $80,806,885.02. The disclosure for this sale can be found here. Insiders have sold 415,596 shares of company stock worth $21,922,137 in the last quarter. Insiders own 0.71% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.