National Pension Service Increases Stake in Boston Scientific Corporation $BSX

National Pension Service grew its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 2.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,465,206 shares of the medical equipment provider’s stock after buying an additional 89,273 shares during the quarter. National Pension Service’s holdings in Boston Scientific were worth $338,308,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Boston Scientific by 1.9% in the second quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock worth $14,729,575,000 after purchasing an additional 2,545,381 shares during the last quarter. State Street Corp lifted its holdings in Boston Scientific by 1.1% in the 2nd quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after buying an additional 713,379 shares during the period. Geode Capital Management LLC lifted its holdings in Boston Scientific by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 32,424,982 shares of the medical equipment provider’s stock worth $3,466,320,000 after buying an additional 622,602 shares during the period. Norges Bank bought a new stake in shares of Boston Scientific in the 2nd quarter worth approximately $2,089,937,000. Finally, Invesco Ltd. increased its stake in shares of Boston Scientific by 1.4% during the second quarter. Invesco Ltd. now owns 16,851,518 shares of the medical equipment provider’s stock valued at $1,810,022,000 after buying an additional 226,578 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock opened at $93.58 on Friday. The company has a market capitalization of $138.72 billion, a price-to-earnings ratio of 50.04, a price-to-earnings-growth ratio of 1.64 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 1.51. Boston Scientific Corporation has a one year low of $85.98 and a one year high of $109.50. The company’s 50-day moving average is $95.21 and its 200 day moving average is $99.52.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC restated a “buy” rating on shares of Boston Scientific in a report on Thursday, January 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $112.00 price target on shares of Boston Scientific in a research report on Friday, January 9th. BTIG Research restated a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a report on Friday, November 21st. Citigroup reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 14th. Finally, TD Cowen restated a “buy” rating on shares of Boston Scientific in a research note on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 50,000 shares of Boston Scientific stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $99.47, for a total value of $4,973,500.00. Following the completion of the sale, the executive vice president owned 178,342 shares of the company’s stock, valued at approximately $17,739,678.74. This trade represents a 21.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total value of $1,266,927.48. Following the transaction, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 80,204 shares of company stock valued at $7,998,563 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.