Allstate Corp Takes $3.91 Million Position in Boston Scientific Co. (NYSE:BSX)

Allstate Corp acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 43,744 shares of the medical equipment provider’s stock, valued at approximately $3,907,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. TFC Financial Management Inc. raised its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 210 shares during the period. Dunhill Financial LLC raised its position in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Global Wealth Strategies & Associates raised its position in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC purchased a new position in shares of Boston Scientific during the fourth quarter worth $29,000. Finally, Valley National Advisers Inc. grew its stake in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 286 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the transaction, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,302 shares of company stock worth $14,319,269 in the last 90 days. 0.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a report on Monday, March 3rd. Piper Sandler upped their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley increased their price objective on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Stock Performance

Shares of BSX stock opened at $99.29 on Friday. The stock’s 50-day moving average is $102.16 and its two-hundred day moving average is $93.04. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The firm has a market cap of $146.86 billion, a price-to-earnings ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.