Capital International Inc. CA Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

Capital International Inc. CA purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 31,485 shares of the medical equipment provider’s stock, valued at approximately $2,156,000.

Other hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $5,116,000. Sierra Summit Advisors LLC bought a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $8,038,000. TD Asset Management Inc boosted its position in shares of Boston Scientific by 10.7% during the fourth quarter. TD Asset Management Inc now owns 1,615,932 shares of the medical equipment provider’s stock valued at $93,417,000 after purchasing an additional 155,565 shares in the last quarter. HealthInvest Partners AB bought a new stake in Boston Scientific in the fourth quarter worth $3,746,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Boston Scientific by 225.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after acquiring an additional 73,219 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP John Bradley Sorenson sold 17,587 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total value of $1,257,470.50. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,620,617. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders sold a total of 62,441 shares of company stock valued at $4,624,453 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BSX shares. Truist Financial boosted their target price on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. TD Cowen boosted their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Citigroup boosted their target price on Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Needham & Company LLC boosted their target price on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Finally, StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday. Two 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. Based on data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $84.76.

Boston Scientific Stock Performance

BSX traded up $0.66 during midday trading on Friday, reaching $74.92. The company had a trading volume of 7,973,424 shares, compared to its average volume of 5,863,226. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average of $76.49 and a two-hundred day moving average of $70.32. The company has a market cap of $109.92 billion, a P/E ratio of 62.98, a P/E/G ratio of 2.47 and a beta of 0.78. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $79.43.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.