Burney Co. Buys Shares of 5,892 Boston Scientific Co. (NYSE:BSX)

Burney Co. purchased a new position in Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,892 shares of the medical equipment provider’s stock, valued at approximately $454,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after buying an additional 1,988,082 shares in the last quarter. Primecap Management Co. CA boosted its holdings in shares of Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after acquiring an additional 550,490 shares in the last quarter. Norges Bank acquired a new position in shares of Boston Scientific during the fourth quarter valued at approximately $930,626,000. Capital World Investors raised its holdings in Boston Scientific by 69.9% during the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock worth $755,436,000 after purchasing an additional 6,859,280 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Up 1.3 %

NYSE:BSX traded up $1.04 on Thursday, hitting $80.56. 3,621,140 shares of the company’s stock traded hands, compared to its average volume of 6,083,758. The firm has a 50-day moving average price of $76.73 and a 200-day moving average price of $72.71. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The company has a market cap of $118.19 billion, a PE ratio of 67.62, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $80.96.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the firm posted $0.53 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research reports. Canaccord Genuity Group boosted their price objective on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup boosted their price target on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Barclays increased their target price on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Mizuho raised their target price on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average target price of $85.24.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 20,949 shares of company stock valued at $1,583,395. 0.50% of the stock is owned by insiders.

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.