Capital Research Global Investors Buys Shares of 2,670,426 Boston Scientific Co. (NYSE:BSX)

Capital Research Global Investors bought a new stake in Boston Scientific Co. (NYSE:BSX) in the 1st quarter, HoldingsChannel reports. The firm bought 2,670,426 shares of the medical equipment provider’s stock, valued at approximately $182,897,000.

Other large investors have also modified their holdings of the company. First Foundation Advisors acquired a new position in shares of Boston Scientific in the 1st quarter valued at $25,000. Eagle Bay Advisors LLC lifted its stake in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at $31,000. Finally, YHB Investment Advisors Inc. acquired a new position in shares of Boston Scientific in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’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 transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’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 transaction of $539,785.90. Following the transaction, the executive vice president now owns 42,908 shares in the company, valued at approximately $3,316,788.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 20,197 shares in the company, valued at approximately $1,521,641.98. The disclosure for this sale can be found here. Insiders have sold 62,441 shares of company stock worth $4,624,453 in the last quarter. 0.50% of the stock is owned by insiders.

Boston Scientific Stock Up 0.9 %

Shares of BSX traded up $0.66 during mid-day trading on Friday, reaching $74.92. The company’s stock had a trading volume of 7,973,424 shares, compared to its average volume of 5,863,226. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43. The stock has a market cap of $109.92 billion, a PE ratio of 62.98, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. 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 200 day moving average is $70.32.

Boston Scientific (NYSE:BSX) last released 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. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. Equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BSX. UBS Group upped their price target on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Canaccord Genuity Group increased their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday. Needham & Company LLC increased their target price on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen increased their target price on Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, BTIG Research increased their target price on Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.76.

Boston Scientific 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.