Everence Capital Management Inc. Acquires 6,770 Shares of Boston Scientific Co. (NYSE:BSX)

Everence Capital Management Inc. boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 15.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,660 shares of the medical equipment provider’s stock after buying an additional 6,770 shares during the quarter. Everence Capital Management Inc.’s holdings in Boston Scientific were worth $4,436,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Boston Scientific by 4.4% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after acquiring an additional 173,034 shares during the last quarter. HWG Holdings LP bought a new position in Boston Scientific in the 2nd quarter worth $482,000. Principal Financial Group Inc. grew its holdings in Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after purchasing an additional 111,724 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after buying an additional 30,636 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after buying an additional 119,525 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Trading Up 1.6 %

NYSE BSX traded up $1.42 during trading hours on Friday, hitting $90.80. 840,079 shares of the company were exchanged, compared to its average volume of 2,053,965. The stock has a market cap of $133.82 billion, a PE ratio of 75.04, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 52 week low of $57.58 and a 52 week high of $91.93. The stock has a 50-day moving average price of $88.86 and a 200 day moving average price of $83.10. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

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

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,174 shares of company stock valued at $27,372,081. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSX. Canaccord Genuity Group boosted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Truist Financial upped their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Stifel Nicolaus upped their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Sanford C. Bernstein raised their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.96.

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.