Capital Research Global Investors Raises Position in Boston Scientific Corporation (BSX)
Capital Research Global Investors boosted its holdings in Boston Scientific Corporation (NYSE:BSX) by 0.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,577,410 shares of the medical equipment provider’s stock after buying an additional 7,404 shares during the quarter. Capital Research Global Investors owned approximately 0.77% of Boston Scientific Corporation worth $293,206,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in Boston Scientific Corporation by 2,181.6% in the 1st quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock valued at $2,381,169,000 after acquiring an additional 91,548,235 shares during the period. FMR LLC grew its stake in shares of Boston Scientific Corporation by 7.6% in the first quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock worth $4,593,698,000 after purchasing an additional 13,105,596 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Boston Scientific Corporation by 405.3% in the second quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock worth $294,921,000 after purchasing an additional 8,533,655 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Boston Scientific Corporation in the first quarter valued at $149,859,000. Finally, Marshall Wace North America L.P. acquired a new stake in Boston Scientific Corporation in the first quarter valued at $149,859,000. Institutional investors and hedge funds own 90.44% of the company’s stock.
In other Boston Scientific Corporation news, SVP John Bradley Sorenson sold 2,100 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.15, for a total value of $57,015.00. Following the sale, the senior vice president now directly owns 18,880 shares of the company’s stock, valued at $512,592. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Wendy Carruthers sold 12,433 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $26.75, for a total value of $332,582.75. The disclosure for this sale can be found here. Insiders sold a total of 276,318 shares of company stock worth $7,567,967 in the last 90 days. 0.74% of the stock is currently owned by company insiders.
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A number of equities analysts recently commented on BSX shares. Zacks Investment Research lowered Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. J P Morgan Chase & Co reissued an “overweight” rating and set a $31.00 target price (up previously from $27.00) on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th. Royal Bank Of Canada restated a “buy” rating and set a $31.00 price target on shares of Boston Scientific Corporation in a report on Wednesday, July 12th. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Boston Scientific Corporation in a report on Tuesday. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $31.00 price target (up previously from $29.50) on shares of Boston Scientific Corporation in a research report on Friday, June 16th. One analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $30.12.
Boston Scientific Corporation (BSX) traded up 0.45% on Wednesday, reaching $29.15. 492,595 shares of the company’s stock traded hands. The company has a market cap of $40.00 billion, a PE ratio of 52.15 and a beta of 1.09. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $29.50. The firm’s 50 day moving average price is $28.06 and its 200 day moving average price is $26.92.
Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the firm earned $0.27 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, equities analysts expect that Boston Scientific Corporation will post $1.26 EPS for the current fiscal year.
Boston Scientific Corporation Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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