Ensign Peak Advisors Inc Reduces Position in Boston Scientific Co. (NYSE:BSX)

Ensign Peak Advisors Inc reduced its position in Boston Scientific Co. (NYSE:BSX) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,535,939 shares of the medical equipment provider’s stock after selling 147,058 shares during the period. Ensign Peak Advisors Inc’s holdings in Boston Scientific were worth $137,190,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BSX. Norges Bank bought a new position in Boston Scientific in the 4th quarter valued at $1,762,522,000. Capital World Investors boosted its stake in shares of Boston Scientific by 28.7% during the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the period. Wellington Management Group LLP grew its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE increased its stake in Boston Scientific by 208.2% in the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after buying an additional 2,535,007 shares during the period. Finally, Northern Trust Corp lifted its holdings in Boston Scientific by 18.0% during the 4th quarter. Northern Trust Corp now owns 14,595,627 shares of the medical equipment provider’s stock valued at $1,303,681,000 after buying an additional 2,221,790 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 300,497 shares of company stock worth $31,056,815 over the last three months. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $103.32 on Friday. The stock has a 50-day moving average of $98.70 and a two-hundred day moving average of $95.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The stock has a market cap of $152.86 billion, a P/E ratio of 82.66, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Boston Scientific’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research reports. Barclays raised their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Morgan Stanley raised their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Stifel Nicolaus lifted their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, February 6th. BTIG Research reiterated a “buy” rating and set a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Finally, StockNews.com raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Twenty-three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $114.52.

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.