Mizuho Markets Americas LLC Buys New Position in Boston Scientific Co. (NYSE:BSX)

Mizuho Markets Americas LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 8,818 shares of the medical equipment provider’s stock, valued at approximately $739,000.

A number of other hedge funds have also added to or reduced their stakes in BSX. Capital World Investors increased its position in shares of Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after buying an additional 6,588,256 shares during the period. Marshall Wace LLP grew its stake in Boston Scientific by 115.9% in the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the period. Capital Research Global Investors bought a new position in Boston Scientific in the first quarter worth $182,897,000. AustralianSuper Pty Ltd grew its position in shares of Boston Scientific by 4,292.3% in the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after buying an additional 2,615,903 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is currently owned by insiders.

Boston Scientific Trading Down 0.7 %

Shares of BSX opened at $86.99 on Friday. Boston Scientific Co. has a fifty-two week low of $53.56 and a fifty-two week high of $89.30. The stock has a market capitalization of $128.21 billion, a PE ratio of 71.89, a P/E/G ratio of 2.61 and a beta of 0.79. The company’s fifty day moving average is $85.26 and its 200 day moving average is $79.54. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on BSX shares. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research report on Thursday, October 31st. Citigroup raised their price target on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America increased their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Raymond James raised their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.