Capital International Sarl Takes Position in Boston Scientific Co. (NYSE:BSX)

Capital International Sarl purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the first quarter, Holdings Channel.com reports. The firm purchased 66,823 shares of the medical equipment provider’s stock, valued at approximately $4,577,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. Norges Bank purchased a new position in Boston Scientific during the 4th quarter worth $930,626,000. Putnam Investments LLC grew its stake in Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after buying an additional 6,859,280 shares during the last quarter. Capital World Investors grew its stake in Boston Scientific by 236.1% during the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock worth $544,560,000 after buying an additional 6,617,360 shares during the last quarter. Vanguard Group Inc. grew its stake in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in Boston Scientific by 11,484.5% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,705,468 shares of the medical equipment provider’s stock worth $98,593,000 after buying an additional 1,690,746 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Scientific news, EVP John Bradley Sorenson sold 17,587 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $71.50, for a total transaction of $1,257,470.50. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,620,617. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the sale, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 62,441 shares of company stock valued at $4,624,453. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

NYSE BSX traded up $0.69 during trading hours on Friday, reaching $74.95. The company’s stock had a trading volume of 7,973,286 shares, compared to its average volume of 6,295,007. The firm has a market capitalization of $109.96 billion, a price-to-earnings ratio of 62.98, a P/E/G ratio of 2.64 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. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The company’s 50-day moving average is $76.49 and its two-hundred day moving average is $70.32.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company 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%. Boston Scientific’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. On average, equities analysts predict that Boston Scientific Co. will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BSX shares. Raymond James boosted their target price on Boston Scientific from $85.00 to $91.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a research note on Thursday. The Goldman Sachs Group assumed coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. Citigroup lifted their price target on Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, Barclays lifted their price target on Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Two 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

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.