Boston Scientific Co. (NYSE:BSX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,707,102 shares of the medical equipment provider's stock after selling 1,455,465 shares during the quarter. Franklin Resources Inc. owned about 1.07% of Boston Scientific worth $1,377,217,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP grew its stake in shares of Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock valued at $517,544,000 after buying an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd lifted its holdings in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. Ameriprise Financial Inc. grew its position in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock worth $608,349,000 after acquiring an additional 1,824,405 shares during the period. State Street Corp increased its stake in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Boston Scientific by 98.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock valued at $184,810,000 after purchasing an additional 1,091,561 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares in the company, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company's stock, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 328,157 shares of company stock worth $27,957,676. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BSX. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Sanford C. Bernstein boosted their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Barclays increased their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group raised 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. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $94.43.

Boston Scientific Stock Down 0.3 %

NYSE:BSX traded down $0.31 during trading hours on Friday, hitting $90.11. The company's stock had a trading volume of 3,181,204 shares, compared to its average volume of 5,970,551. Boston Scientific Co. has a 52-week low of $54.95 and a 52-week high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $132.81 billion, a P/E ratio of 74.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The stock has a fifty day moving average of $87.87 and a 200-day moving average of $81.67.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business's revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 EPS. On average, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Boston Scientific Company 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.