Intech Investment Management LLC Acquires 36,370 Shares of Boston Scientific Co. (NYSE:BSX)

Intech Investment Management LLC raised its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 87.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,862 shares of the medical equipment provider’s stock after acquiring an additional 36,370 shares during the quarter. Intech Investment Management LLC’s holdings in Boston Scientific were worth $5,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific in the second quarter worth $26,000. First Foundation Advisors bought a new position in shares of Boston Scientific in the first quarter worth $25,000. Eagle Bay Advisors LLC increased its holdings in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the period. Andra AP fonden bought a new position in shares of Boston Scientific in the second quarter worth $29,000. Finally, Lynx Investment Advisory bought a new position in shares of Boston Scientific in the second quarter worth $30,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at $3,061,135.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 20,949 shares of company stock valued at $1,627,877 over the last three months. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BSX. Argus upped their price target on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. BTIG Research upped their target price on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Barclays upped their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Citigroup upped their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, Evercore ISI upped their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 2nd. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $83.92 on Friday. The company has a market cap of $123.12 billion, a price-to-earnings ratio of 70.52, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79. The company has a 50-day moving average price of $78.72 and a 200-day moving average price of $74.68. The company has a current ratio of 1.61, a quick ratio of 1.14 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 $84.89.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the firm posted $0.53 earnings per share. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

Boston Scientific Company Profile

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.