Temasek Holdings Private Ltd Increases Holdings in Boston Scientific Corporation $BSX

Temasek Holdings Private Ltd raised its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 15.3% in the 1st quarter, HoldingsChannel reports. The fund owned 2,399,426 shares of the medical equipment provider’s stock after buying an additional 317,800 shares during the quarter. Temasek Holdings Private Ltd’s holdings in Boston Scientific were worth $150,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. Vanguard Group Inc. boosted its holdings in Boston Scientific by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after purchasing an additional 1,436,550 shares in the last quarter. State Street Corp increased its stake in Boston Scientific by 1.4% in the fourth quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock valued at $6,278,422,000 after purchasing an additional 920,495 shares during the last quarter. Capital World Investors raised its holdings in Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock worth $2,588,953,000 after purchasing an additional 502,627 shares in the last quarter. Norges Bank acquired a new stake in Boston Scientific during the fourth quarter worth approximately $2,199,395,000. Finally, Morgan Stanley lifted its position in shares of Boston Scientific by 10.8% during the 4th quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock worth $2,189,289,000 after buying an additional 2,246,308 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, Director Edward J. Ludwig acquired 3,580 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director owned 25,359 shares of the company’s stock, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David C. Habiger acquired 2,250 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the completion of the purchase, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. This trade represents a 19.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have acquired 9,800 shares of company stock valued at $554,012. Insiders own 0.34% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $43.14 on Wednesday. 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 company has a market capitalization of $64.12 billion, a P/E ratio of 18.05, a PEG ratio of 0.84 and a beta of 0.58. The business has a 50 day simple moving average of $47.77 and a 200-day simple moving average of $64.93. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50.

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

Boston Scientific announced that its board has authorized a share repurchase program on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $71.00 target price on shares of Boston Scientific in a report on Thursday, May 28th. Robert W. Baird set a $70.00 price target on shares of Boston Scientific in a research note on Thursday, May 28th. Oppenheimer set a $90.00 price target on shares of Boston Scientific in a research report on Thursday, April 23rd. Wall Street Zen downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Truist Financial dropped their price objective on Boston Scientific from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Profile

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.