Boston Scientific Co. (NYSE:BSX) Shares Purchased by Manchester Capital Management LLC

Manchester Capital Management LLC grew its stake in Boston Scientific Co. (NYSE:BSX) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,723 shares of the medical equipment provider’s stock after purchasing an additional 491 shares during the period. Manchester Capital Management LLC’s holdings in Boston Scientific were worth $529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BSX. Vanguard Group Inc. increased its holdings in Boston Scientific by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after buying an additional 1,681,454 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Boston Scientific by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after purchasing an additional 2,336,348 shares in the last quarter. Primecap Management Co. CA raised its holdings in Boston Scientific by 1.5% in the 4th quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after purchasing an additional 550,490 shares during the period. Norges Bank purchased a new position in Boston Scientific during the fourth quarter worth approximately $930,626,000. Finally, Putnam Investments LLC grew its holdings in 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. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now directly owns 42,908 shares of the company’s stock, valued at approximately $3,316,788.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the transaction, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $73.29, for a total transaction of $719,561.22. Following the sale, the director now directly owns 41,374 shares in the company, valued at $3,032,300.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,259 shares of company stock valued at $5,344,014. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BSX. UBS Group boosted their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Royal Bank of Canada raised their target price on Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Mizuho boosted their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. Wells Fargo & Company raised their price objective on Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Boston Scientific in a report on Thursday, May 30th. They set a “buy” rating and a $90.00 target price for the company. Three research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.29.

Boston Scientific Trading Up 0.1 %

NYSE BSX traded up $0.08 during trading hours on Friday, reaching $76.97. The company had a trading volume of 662,621 shares, compared to its average volume of 6,133,097. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $77.99. The stock has a market capitalization of $112.92 billion, a P/E ratio of 64.61, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The stock has a 50-day moving average of $75.71 and a 200 day moving average of $68.80. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

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