Principal Financial Group Inc. Purchases 111,724 Shares of Boston Scientific Co. (NYSE:BSX)

Principal Financial Group Inc. boosted its position in Boston Scientific Co. (NYSE:BSX) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,010,441 shares of the medical equipment provider’s stock after purchasing an additional 111,724 shares during the quarter. Principal Financial Group Inc.’s holdings in Boston Scientific were worth $168,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. BDF Gestion bought a new stake in Boston Scientific during the second quarter valued at $3,570,000. LRI Investments LLC purchased a new position in shares of Boston Scientific during the first quarter worth about $139,000. Cetera Advisor Networks LLC increased its position in shares of Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after purchasing an additional 21,252 shares during the last quarter. Brookstone Capital Management raised its stake in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after purchasing an additional 55,645 shares in the last quarter. Finally, Empowered Funds LLC raised its stake in Boston Scientific by 56.6% in the first quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock valued at $1,703,000 after purchasing an additional 8,982 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the firm’s 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 sale, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This represents a 0.00 % 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, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,270 shares of company stock valued at $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $86.90 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $128.08 billion, a price-to-earnings ratio of 71.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $50.84 and a 12 month high of $88.79. The company has a 50-day moving average price of $84.35 and a 200-day moving average price of $78.74.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion during 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%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a research note on Thursday, October 31st. Morgan Stanley lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

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.