Capital International Sarl grew its stake in Boston Scientific Corporation (NYSE:BSX – Free Report) by 26.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 415,718 shares of the medical equipment provider’s stock after acquiring an additional 87,427 shares during the quarter. Capital International Sarl’s holdings in Boston Scientific were worth $39,639,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp lifted its position in shares of Boston Scientific by 200.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 255 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 170 shares in the last quarter. FWL Investment Management LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at $26,000. Colonial Trust Co SC lifted its position in shares of Boston Scientific by 502.2% in the third quarter. Colonial Trust Co SC now owns 277 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 231 shares in the last quarter. Bangor Savings Bank increased its stake in Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in Boston Scientific in the fourth quarter valued at $29,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.
Boston Scientific Stock Performance
Boston Scientific stock opened at $48.66 on Friday. The stock’s 50-day moving average is $58.11 and its 200-day moving average is $76.70. The company has a market cap of $72.32 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 0.91 and a beta of 0.56. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 12 month low of $47.17 and a 12 month high of $109.50.
Boston Scientific announced that its board has initiated a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
Insider Transactions at Boston Scientific
In other news, Director David C. Habiger acquired 2,250 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the acquisition, the director directly owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Cheryl Pegus bought 1,770 shares of the stock in a transaction dated Wednesday, May 20th. The stock was bought at an average price of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 9,800 shares of company stock worth $554,012 in the last three months. 0.34% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Mizuho dropped their target price on Boston Scientific from $115.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, April 13th. Daiwa Securities Group lowered Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Leerink Partners dropped their target price on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Bank of America dropped their target price on Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Oppenheimer set a $90.00 target price on Boston Scientific in a research note on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.92.
Check Out Our Latest Analysis on BSX
Trending Headlines about Boston Scientific
Here are the key news stories impacting Boston Scientific this week:
- Positive Sentiment: Canaccord reiterated a Buy rating on Boston Scientific, even though it trimmed its price target slightly to $70 from $71, signaling continued confidence in the company’s long-term outlook. Is Boston Scientific Corporation (BSX) One of the Top Cheap Stocks With Strong Buy Ratings on Wall Street?
- Positive Sentiment: Truist also kept a Buy rating, though it cut its price target to $64 from $85, suggesting analysts still see meaningful upside despite a more cautious valuation view. Benzinga
- Positive Sentiment: The company announced plans for a $138 million medical device distribution facility in Indiana, which should expand operations and add 300 jobs, a sign of ongoing investment in growth and logistics capacity. Boston Scientific to open $138M medical device distribution facility in Indiana, adding 300 jobs
- Neutral Sentiment: Boston Scientific’s last reported quarter was strong, with revenue of $5.20 billion and EPS of $0.80 beating expectations, but the company also cut guidance due to stronger competition in cardiac devices and slower Watchman growth, creating a mixed fundamental backdrop. How Investors May Respond To Boston Scientific (BSX) Strong Q1 Beat But Cut Guidance On Watchman Growth
- Neutral Sentiment: Recent market commentary noted BSX has been trading above market averages on some sessions, but also lagging some peers, reflecting choppy investor sentiment rather than a clear trend. Boston Scientific Corp. stock underperforms Thursday when compared to competitors despite daily gains
- Negative Sentiment: The repeated reductions in price targets from analysts, including Truist and Canaccord, suggest expectations have reset lower, which can weigh on sentiment even when ratings remain positive. Is Boston Scientific Corporation (BSX) One of the Top Cheap Stocks With Strong Buy Ratings on Wall Street?
About Boston Scientific
Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.
Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.
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