Franklin Resources Inc. Buys 832,386 Shares of Boston Scientific Co. (NYSE:BSX)

Franklin Resources Inc. increased its position in Boston Scientific Co. (NYSE:BSX) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,539,488 shares of the medical equipment provider’s stock after purchasing an additional 832,386 shares during the quarter. Franklin Resources Inc. owned approximately 1.12% of Boston Scientific worth $1,477,307,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Parnassus Investments LLC increased its stake in shares of Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 97 shares during the period. PDS Planning Inc grew its position in shares of Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after acquiring an additional 113 shares during the period. Adero Partners LLC increased its stake in shares of Boston Scientific by 3.3% in the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 120 shares in the last quarter. Grove Bank & Trust raised its holdings in Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock worth $261,000 after purchasing an additional 122 shares during the period. Finally, PFG Investments LLC grew its holdings in Boston Scientific by 1.6% in the fourth quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after purchasing an additional 125 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of Boston Scientific stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. The trade was a 14.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 137,302 shares of company stock worth $14,319,269. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on BSX. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Piper Sandler raised their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Monday, March 3rd. Finally, TD Cowen lifted their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, December 12th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $99.29 on Monday. The business has a 50-day simple moving average of $102.16 and a 200-day simple moving average of $93.18. The company has a market cap of $146.86 billion, a PE ratio of 79.43, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a one year low of $66.80 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, equities research analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current fiscal 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.