Capital Group Investment Management PTE. LTD. Purchases 20,523 Shares of Boston Scientific Co. (NYSE:BSX)

Capital Group Investment Management PTE. LTD. boosted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 91.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,959 shares of the medical equipment provider's stock after purchasing an additional 20,523 shares during the quarter. Capital Group Investment Management PTE. LTD.'s holdings in Boston Scientific were worth $3,837,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BSX. TFC Financial Management Inc. raised its stake in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 210 shares in the last quarter. Global Wealth Strategies & Associates grew its stake in shares of Boston Scientific by 423.7% during the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock worth $28,000 after buying an additional 250 shares during the last quarter. West Oak Capital LLC acquired a new position in shares of Boston Scientific during the fourth quarter worth $29,000. Valley National Advisers Inc. lifted its stake in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 286 shares during the last quarter. Finally, Fairway Wealth LLC acquired a new stake in shares of Boston Scientific during the 4th quarter valued at $36,000. Institutional investors own 89.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BSX shares. Argus set a $130.00 target price on Boston Scientific in a research report on Tuesday, February 18th. StockNews.com lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a report on Saturday, March 8th. Needham & Company LLC raised shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $113.00 target price on the stock in a report on Wednesday, April 16th. Wells Fargo & Company raised their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $110.22.

Boston Scientific Stock Up 5.1 %

Shares of NYSE BSX traded up $4.88 during trading on Wednesday, hitting $99.93. 6,514,228 shares of the company traded hands, compared to its average volume of 6,389,393. The firm has a market capitalization of $147.80 billion, a price-to-earnings ratio of 79.94, a P/E/G ratio of 2.79 and a beta of 0.73. The business's fifty day moving average is $99.00 and its 200 day moving average is $94.55. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a fifty-two week low of $67.80 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company's stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the sale, the senior vice president now directly owns 36,193 shares of the company's stock, valued at $3,441,592.37. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 138,009 shares of company stock valued at $14,407,381. 0.50% of the stock is owned by company insiders.

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.