Boston Scientific Co. (NYSE:BSX) Shares Purchased by Putnam Investments LLC

Putnam Investments LLC boosted its stake in Boston Scientific Co. (NYSE:BSX) by 110.5% in the fourth quarter, Holdings Channel reports. The fund owned 13,067,570 shares of the medical equipment provider’s stock after buying an additional 6,859,280 shares during the quarter. Boston Scientific makes up about 1.0% of Putnam Investments LLC’s holdings, making the stock its 24th biggest holding. Putnam Investments LLC’s holdings in Boston Scientific were worth $755,436,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Ethic Inc. grew its stake in shares of Boston Scientific by 6.4% during the fourth quarter. Ethic Inc. now owns 175,982 shares of the medical equipment provider’s stock valued at $10,174,000 after acquiring an additional 10,646 shares in the last quarter. Bridgewater Associates LP increased its holdings in Boston Scientific by 1.3% during the 4th quarter. Bridgewater Associates LP now owns 1,757,512 shares of the medical equipment provider’s stock worth $101,602,000 after purchasing an additional 22,416 shares during the last quarter. Bellevue Group AG raised its position in shares of Boston Scientific by 19.8% in the 4th quarter. Bellevue Group AG now owns 3,170,603 shares of the medical equipment provider’s stock valued at $183,293,000 after purchasing an additional 524,308 shares in the last quarter. Vontobel Asset Management Inc. boosted its stake in shares of Boston Scientific by 10.2% during the 4th quarter. Vontobel Asset Management Inc. now owns 10,974,569 shares of the medical equipment provider’s stock valued at $668,472,000 after buying an additional 1,015,140 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its stake in shares of Boston Scientific by 6.2% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 127,836 shares of the medical equipment provider’s stock valued at $7,390,000 after buying an additional 7,506 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at approximately $1,521,641.98. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Boston Scientific news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $69.30, for a total value of $1,133,124.30. Following the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,011 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 20,197 shares of the company’s stock, valued at $1,521,641.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,627 shares of company stock valued at $5,937,353. Company insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BSX shares. Mizuho upped their price target on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. The Goldman Sachs Group began coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price on the stock. Robert W. Baird lifted their price target on Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Barclays upped their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Royal Bank of Canada increased their target price on Boston Scientific from $78.00 to $82.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.70.

Boston Scientific Stock Performance

Shares of BSX traded down $0.45 during mid-day trading on Tuesday, reaching $76.97. 999,677 shares of the company’s stock traded hands, compared to its average volume of 6,332,609. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The business’s 50-day moving average price is $72.36 and its 200-day moving average price is $65.55. The stock has a market capitalization of $112.92 billion, a P/E ratio of 64.68, a price-to-earnings-growth ratio of 2.65 and a beta of 0.81. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $77.56.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Boston Scientific had a return on equity of 16.39% and a net margin of 12.06%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.68 billion. Equities analysts predict that Boston Scientific Co. will post 2.32 earnings per share for the current year.

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.