Gradient Investments LLC Acquires 3,467 Shares of Boston Scientific Co. (NYSE:BSX)

Gradient Investments LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 1.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 285,491 shares of the medical equipment provider’s stock after buying an additional 3,467 shares during the quarter. Gradient Investments LLC’s holdings in Boston Scientific were worth $21,986,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in Boston Scientific in the 4th quarter valued at about $930,626,000. Putnam Investments LLC boosted its holdings in shares of Boston Scientific by 110.5% in the fourth quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after purchasing an additional 6,859,280 shares during the period. Capital World Investors grew its stake in 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 worth $544,560,000 after purchasing an additional 6,617,360 shares in the last quarter. Capital Research Global Investors purchased a new position in Boston Scientific during the 1st quarter worth $182,897,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the period. 89.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the sale, the executive vice president now owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Arthur C. Butcher sold 14,011 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total transaction of $1,055,588.74. Following the completion of the transaction, the executive vice president now owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares in the company, valued at $3,316,788.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,960 shares of company stock valued at $2,638,984. 0.50% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BSX. BTIG Research raised their price target on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Wells Fargo & Company boosted their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI boosted their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Finally, Citigroup upped their target price on Boston Scientific from $87.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.76.

Boston Scientific Stock Up 0.9 %

Shares of BSX stock traded up $0.67 during trading hours on Friday, reaching $78.25. 4,414,404 shares of the company’s stock were exchanged, compared to its average volume of 6,225,274. The stock has a market cap of $114.80 billion, a PE ratio of 65.76, a PEG ratio of 2.49 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average price is $76.41 and its two-hundred day moving average price is $71.87. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $79.43.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the business posted $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts predict that Boston Scientific Co. will post 2.4 EPS for the current year.

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.