Boston Scientific Corporation $BSX Shares Bought by Temasek Holdings Private Ltd

Temasek Holdings Private Ltd raised its holdings in Boston Scientific Corporation (NYSE:BSX) by 15.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,399,426 shares of the medical equipment provider’s stock after purchasing an additional 317,800 shares during the quarter. Temasek Holdings Private Ltd owned 0.16% of Boston Scientific worth $150,564,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Renaissance Group LLC purchased a new position in shares of Boston Scientific during the 4th quarter worth approximately $28,064,000. Rathbones Group PLC increased its holdings in Boston Scientific by 20.9% in the 4th quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock valued at $263,133,000 after purchasing an additional 477,680 shares during the last quarter. Waycross Partners LLC purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $2,384,000. Meiji Yasuda America Inc purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $4,708,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Boston Scientific by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,173,399 shares of the medical equipment provider’s stock worth $205,843,000 after purchasing an additional 139,004 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director David C. Habiger purchased 2,250 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the transaction, the director directly owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Pegus acquired 1,770 shares of the firm’s 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 directly owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 9,800 shares of company stock worth $554,012 in the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BSX shares. Raymond James Financial restated an “outperform” rating and set a $88.00 price target (down from $97.00) on shares of Boston Scientific in a research report on Monday, March 30th. BTIG Research reissued a “buy” rating and set a $65.00 target price on shares of Boston Scientific in a research note on Tuesday, June 16th. Bank of America lowered their target price on Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a report on Monday, May 18th. Evercore set a $65.00 target price on Boston Scientific in a research report on Monday, July 6th. Finally, Jefferies Financial Group dropped their target price on Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $79.84.

Boston Scientific Stock Down 1.4%

Boston Scientific stock opened at $43.14 on Wednesday. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The stock’s fifty day simple moving average is $47.77 and its 200-day simple moving average is $64.93. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $64.12 billion, a P/E ratio of 18.05, a P/E/G ratio of 0.84 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.19 billion. During the same period last year, the business posted $0.75 earnings per share. Boston Scientific’s revenue was up 11.6% compared to the same quarter last year. As a group, equities analysts expect that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved a share buyback plan on Monday, May 18th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

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.