Gradient Investments LLC Acquires 3,467 Shares of Boston Scientific Co. (NYSE:BSX)

Gradient Investments LLC grew its holdings in Boston Scientific Co. (NYSE:BSX) by 1.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 285,491 shares of the medical equipment provider’s stock after purchasing an additional 3,467 shares during the period. Gradient Investments LLC’s holdings in Boston Scientific were worth $21,986,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Primecap Management Co. CA raised its stake in shares of Boston Scientific by 1.5% during the 4th 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 purchasing an additional 550,490 shares during the period. Norges Bank purchased a new stake in Boston Scientific during the 4th quarter worth about $930,626,000. Capital World Investors boosted its stake in Boston Scientific by 69.9% in the 1st 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 during the period. Finally, Putnam Investments LLC grew its holdings 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 valued at $755,436,000 after buying an additional 6,859,280 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 0.9 %

Boston Scientific stock traded up $0.67 during mid-day trading on Friday, hitting $78.25. The company’s stock had a trading volume of 4,414,404 shares, compared to its average volume of 6,225,274. The business has a 50 day moving average price of $76.41 and a 200-day moving average price of $71.87. 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 $114.80 billion, a price-to-earnings ratio of 65.76, a price-to-earnings-growth ratio of 2.49 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.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BSX shares. Morgan Stanley increased their price target on shares of Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, July 15th. Citigroup raised their price target on shares of Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Canaccord Genuity Group upped their price target on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Raymond James lifted their price objective on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Finally, Barclays boosted their target price 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 research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.76.

Insider Activity

In related news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares in the company, valued at approximately $1,521,641.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the 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 completion of the sale, 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 SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 14,011 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were 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 directly owns 20,197 shares in the company, valued at $1,521,641.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,960 shares of company stock valued at $2,638,984. 0.50% of the stock is currently owned by company insiders.

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.