Trueblood Wealth Management LLC Acquires Shares of 2,732 Boston Scientific Co. (NYSE:BSX)

Trueblood Wealth Management LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,732 shares of the medical equipment provider’s stock, valued at approximately $210,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 purchasing 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 fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after buying an additional 550,490 shares during the last quarter. Norges Bank acquired a new position in Boston Scientific in the fourth quarter valued at approximately $930,626,000. Capital World Investors boosted its stake in Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares during the last quarter. 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 worth $755,436,000 after acquiring an additional 6,859,280 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BSX shares. Needham & Company LLC raised their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Mizuho upped their price target on Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, May 15th. Argus lifted their price objective on shares of Boston Scientific from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Boston Scientific in a report on Thursday, July 25th. Finally, TD Cowen increased their target price on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Two investment 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 stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 20,949 shares of company stock worth $1,627,877 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

NYSE BSX opened at $82.87 on Thursday. The firm’s 50 day moving average is $77.79 and its 200-day moving average is $73.87. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $121.58 billion, a PE ratio of 69.64, a price-to-earnings-growth ratio of 2.71 and a beta of 0.79. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $83.27.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $0.53 EPS. The company’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.