Franklin Resources Inc. Has $1.48 Billion Position in Boston Scientific Co. (NYSE:BSX)

Franklin Resources Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 5.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,539,488 shares of the medical equipment provider's stock after buying an additional 832,386 shares during the quarter. Franklin Resources Inc. owned 1.12% of Boston Scientific worth $1,477,307,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of BSX. TFC Financial Management Inc. boosted its stake in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC bought a new stake in Boston Scientific during the fourth quarter worth about $29,000. Dunhill Financial LLC grew its stake in Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider's stock worth $28,000 after buying an additional 152 shares during the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Boston Scientific by 262.4% in the fourth 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. Institutional investors and hedge funds own 89.07% of the company's stock.

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Boston Scientific Trading Down 7.5 %

Shares of NYSE:BSX traded down $7.41 during mid-day trading on Friday, reaching $91.09. The stock had a trading volume of 10,199,711 shares, compared to its average volume of 6,137,618. The firm has a 50 day simple moving average of $102.14 and a two-hundred day simple moving average of $93.51. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The firm has a market cap of $134.73 billion, a PE ratio of 72.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 1,201 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares of the company's stock, valued at $2,704,845.33. The trade was a 4.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific 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 completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This represents a 75.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock valued at $13,948,476 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on BSX. Canaccord Genuity Group increased their price target on Boston Scientific from $98.00 to $101.00 and gave the stock a "buy" rating in a research report on Monday, December 9th. UBS Group raised their target price on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $108.91.

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.