Temasek Holdings Private Ltd Purchases Shares of 406,494 Boston Scientific Co. (NYSE:BSX)

Temasek Holdings Private Ltd bought a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 406,494 shares of the medical equipment provider's stock, valued at approximately $36,308,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC raised its stake in shares of Boston Scientific by 12.0% during the fourth quarter. Park Avenue Securities LLC now owns 12,869 shares of the medical equipment provider's stock valued at $1,149,000 after acquiring an additional 1,381 shares during the last quarter. Ritholtz Wealth Management grew its holdings in Boston Scientific by 14.2% in the 4th quarter. Ritholtz Wealth Management now owns 32,646 shares of the medical equipment provider's stock worth $2,916,000 after acquiring an additional 4,050 shares during the last quarter. Empirical Asset Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter valued at about $1,447,000. Procyon Advisors LLC bought a new stake in Boston Scientific during the fourth quarter worth about $208,000. Finally, Merit Financial Group LLC raised its holdings in Boston Scientific by 12.0% in the fourth quarter. Merit Financial Group LLC now owns 107,482 shares of the medical equipment provider's stock worth $9,600,000 after buying an additional 11,502 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the transaction, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now directly owns 18,705 shares in the company, valued at approximately $1,955,420.70. This represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,830 shares of company stock valued at $20,043,415. Insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BSX. BTIG Research restated a "buy" rating and set a $124.00 target price on shares of Boston Scientific in a research report on Wednesday, April 23rd. Truist Financial lifted their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Raymond James upped their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Citigroup upped their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Finally, Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $114.74.

Boston Scientific Stock Performance

BSX traded down $1.87 during trading on Wednesday, hitting $104.67. 8,076,025 shares of the stock were exchanged, compared to its average volume of 6,383,789. The firm has a market capitalization of $154.85 billion, a P/E ratio of 83.73, a PEG ratio of 2.79 and a beta of 0.68. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a fifty day moving average price of $99.61 and a two-hundred day moving average price of $96.97. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Boston Scientific Company 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.