Capital International Sarl Buys New Holdings in Boston Scientific Co. (NYSE:BSX)

Capital International Sarl bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 66,823 shares of the medical equipment provider’s stock, valued at approximately $4,577,000.

Several other institutional investors also recently bought and sold shares of BSX. Norges Bank purchased a new stake in Boston Scientific during the 4th quarter valued at about $930,626,000. Putnam Investments LLC lifted its holdings in Boston Scientific by 110.5% in 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 period. Capital World Investors lifted its holdings in Boston Scientific by 236.1% in 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 period. Vanguard Group Inc. lifted its holdings 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 worth $8,728,221,000 after buying an additional 1,988,082 shares during the period. Finally, Public Employees Retirement Association of Colorado lifted its holdings in Boston Scientific by 11,484.5% in 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 period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BSX has been the subject of several research analyst reports. UBS Group increased their price objective on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Argus increased their target price on Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday. Finally, Mizuho increased their target price on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Two 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $84.76.

Boston Scientific Stock Up 0.9 %

BSX traded up $0.69 during trading on Friday, hitting $74.95. 7,973,286 shares of the company’s stock traded hands, compared to its average volume of 6,295,007. The company’s 50 day simple moving average is $76.49 and its two-hundred day simple moving average is $70.32. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43. The stock has a market capitalization of $109.96 billion, a price-to-earnings ratio of 62.98, a PEG ratio of 2.64 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business posted $0.53 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on 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 transaction, 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 accessible through this link. In other news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total value of $286,874.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 17,587 shares of the firm’s stock in a transaction on 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 in the company, valued at $3,620,617. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,441 shares of company stock worth $4,624,453. Insiders own 0.50% of the company’s stock.

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.