South Street Advisors LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

South Street Advisors LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 332,973 shares of the medical equipment provider’s stock after buying an additional 13,003 shares during the quarter. Boston Scientific comprises approximately 3.9% of South Street Advisors LLC’s investment portfolio, making the stock its 8th biggest holding. South Street Advisors LLC’s holdings in Boston Scientific were worth $15,057,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Trust Advisors LP lifted its position in shares of Boston Scientific by 431.4% in the third quarter. First Trust Advisors LP now owns 1,806,774 shares of the medical equipment provider’s stock worth $73,518,000 after purchasing an additional 1,466,762 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Boston Scientific by 1,787.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,457,261 shares of the medical equipment provider’s stock worth $65,897,000 after purchasing an additional 1,380,055 shares in the last quarter. State Street Corp lifted its position in shares of Boston Scientific by 1.8% in the fourth quarter. State Street Corp now owns 60,256,156 shares of the medical equipment provider’s stock worth $2,724,783,000 after purchasing an additional 1,080,641 shares in the last quarter. Strs Ohio lifted its position in shares of Boston Scientific by 117.4% in the fourth quarter. Strs Ohio now owns 1,455,691 shares of the medical equipment provider’s stock worth $65,826,000 after purchasing an additional 785,957 shares in the last quarter. Finally, California Public Employees Retirement System lifted its position in shares of Boston Scientific by 31.9% in the third quarter. California Public Employees Retirement System now owns 3,114,781 shares of the medical equipment provider’s stock worth $126,740,000 after purchasing an additional 753,657 shares in the last quarter. 90.05% of the stock is currently owned by hedge funds and other institutional investors.

In other Boston Scientific news, SVP Eric Francis Yves Thepaut sold 22,487 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $42.70, for a total value of $960,194.90. Following the transaction, the senior vice president now directly owns 98,844 shares in the company, valued at $4,220,638.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Bradley Sorenson sold 4,800 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $42.58, for a total transaction of $204,384.00. Following the completion of the transaction, the senior vice president now owns 37,585 shares in the company, valued at $1,600,369.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,064 shares of company stock worth $10,218,416. Corporate insiders own 0.66% of the company’s stock.

A number of analysts have recently commented on BSX shares. Canaccord Genuity reissued a “buy” rating and issued a $58.00 price objective on shares of Boston Scientific in a research report on Thursday, February 6th. Morgan Stanley boosted their price objective on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. ValuEngine lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Guggenheim set a $53.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, BTIG Research initiated coverage on shares of Boston Scientific in a research report on Thursday, February 6th. They set a “buy” rating and a $46.00 price target on the stock. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $49.48.

NYSE BSX traded down $0.15 on Tuesday, hitting $42.16. 7,084,901 shares of the stock were exchanged, compared to its average volume of 7,290,641. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.14 and a quick ratio of 0.77. The business’s fifty day moving average is $43.70 and its 200 day moving average is $42.47. Boston Scientific Co. has a 52 week low of $34.35 and a 52 week high of $46.62. The company has a market capitalization of $58.97 billion, a PE ratio of 12.66, a P/E/G ratio of 2.27 and a beta of 0.87.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. Boston Scientific had a net margin of 43.78% and a return on equity of 23.62%. The firm had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same period in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Analysts predict that Boston Scientific Co. will post 1.77 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 three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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