Capital Group Investment Management PTE. LTD. Increases Stake in Boston Scientific Co. (NYSE:BSX)

Capital Group Investment Management PTE. LTD. boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 91.5% during the 4th quarter, Holdings Channel reports. The firm owned 42,959 shares of the medical equipment provider’s stock after acquiring an additional 20,523 shares during the quarter. Capital Group Investment Management PTE. LTD.’s holdings in Boston Scientific were worth $3,837,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Boston Scientific in the 4th quarter valued at $1,762,522,000. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Axiom Investors LLC DE raised its stake in shares of Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after purchasing an additional 2,535,007 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $190,780,000. Finally, Invesco Ltd. boosted its position in Boston Scientific by 13.6% in the fourth quarter. Invesco Ltd. now owns 15,790,666 shares of the medical equipment provider’s stock valued at $1,410,422,000 after buying an additional 1,893,012 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value of $685,244.16. Following the completion of the sale, the executive vice president now owns 26,449 shares of the company’s stock, valued at $2,776,351.53. This represents a 19.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,183 shares of company stock valued at $13,948,476. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 0.2 %

Shares of BSX opened at $95.08 on Friday. The firm’s fifty day moving average is $99.68 and its two-hundred day moving average is $94.26. The stock has a market cap of $140.63 billion, a PE ratio of 76.06, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on BSX. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Morgan Stanley upped their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Argus set a $130.00 price target on Boston Scientific in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average price target of $110.22.

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.