Boston Scientific Co. (NYSE:BSX) Shares Purchased by PFG Investments LLC

PFG Investments LLC boosted its stake in Boston Scientific Co. (NYSE:BSX) by 61.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 7,885 shares of the medical equipment provider’s stock after acquiring an additional 2,997 shares during the period. PFG Investments LLC’s holdings in Boston Scientific were worth $540,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Boston Scientific in the 4th quarter worth approximately $930,626,000. FMR LLC lifted its stake in Boston Scientific by 6.8% during the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares in the last quarter. Putnam Investments LLC boosted its position in shares of Boston Scientific by 110.5% during the fourth 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 grew its stake in shares of Boston Scientific by 236.1% in the fourth quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after buying an additional 6,617,360 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Boston Scientific by 391.6% in the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after buying an additional 2,606,253 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock traded down $0.69 during mid-day trading on Monday, hitting $72.48. 9,463,878 shares of the stock were exchanged, compared to its average volume of 6,623,186. The stock has a market capitalization of $106.34 billion, a price-to-earnings ratio of 60.91, a P/E/G ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39. The stock’s fifty day simple moving average is $67.96 and its two-hundred day simple moving average is $60.80.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the prior year, the company earned $0.45 earnings per share. On average, analysts forecast that Boston Scientific Co. will post 2.32 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BSX shares. Raymond James raised their target price on Boston Scientific from $73.00 to $85.00 and gave the company a “strong-buy” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $63.00 to $73.00 and gave the stock a “hold” rating in a report on Thursday. Argus boosted their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company increased their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $75.09.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at $2,690,551.22. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Daniel J. Brennan sold 13,662 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Insiders have sold 60,797 shares of company stock worth $4,138,090 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.