Russell Investments Group Ltd. Buys 122,979 Shares of Boston Scientific Co. (NYSE:BSX)

Russell Investments Group Ltd. grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 741,769 shares of the medical equipment provider’s stock after buying an additional 122,979 shares during the period. Russell Investments Group Ltd. owned approximately 0.05% of Boston Scientific worth $42,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Gilliland Jeter Wealth Management LLC bought a new position in Boston Scientific during the fourth quarter worth about $2,277,000. Syon Capital LLC lifted its stake in Boston Scientific by 4.5% in the fourth quarter. Syon Capital LLC now owns 19,069 shares of the medical equipment provider’s stock valued at $1,102,000 after buying an additional 819 shares in the last quarter. Bailard Inc. acquired a new position in shares of Boston Scientific in the fourth quarter valued at approximately $7,147,000. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Boston Scientific by 15.3% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 36,820 shares of the medical equipment provider’s stock worth $2,129,000 after acquiring an additional 4,889 shares in the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $472,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Barclays upped their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. TD Cowen lifted their target price on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Citigroup upped their price target on Boston Scientific from $79.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Argus raised their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Boston Scientific Stock Performance

BSX opened at $72.48 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39. The business has a 50 day moving average of $67.96 and a 200-day moving average of $60.80. The stock has a market cap of $106.34 billion, a price-to-earnings ratio of 60.91, a PEG ratio of 2.52 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the business earned $0.45 EPS. On average, equities research analysts expect that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insider Activity at Boston Scientific

In other news, Director Edward J. Ludwig sold 7,000 shares of the business’s 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 sale, the director now owns 41,374 shares in the company, valued at $2,690,551.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Edward J. Ludwig sold 7,000 shares of Boston Scientific 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 sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the sale, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,797 shares of company stock worth $4,138,090. Insiders own 0.50% of the company’s stock.

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.