The Vanguard Group, Inc. recently announced the acquisition of new stake in Boston Scientific Corp. (NYSE:BSX). The institutional investor has increased its shareholding in the Healthcare company by 1.20% to 117.78 million shares with purchase of 1.4 million shares. This fresh investment now brings its stake to 8.04% valued currently at $6.58 billion. In addition, Fidelity Management & Research Co raised its holdings by 8.4 million to 109.4 million shares. And Wellington Management Co. LLP has lifted its position by 5.88% or 2.34 million shares – to 42.08 million shares.
Currently, there are 1.46B common shares owned by the public and among those 1.46B shares have been available to trade.
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Insiders at the company have transacted a total of 216 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 109 of these insider trades were purchases, accounting for 1,050,993 shares. Insider sales of the common stock occurred on 107 occasions, with total insider shares sold totaling 1,348,497 shares.
The top 3 mutual fund holders in Boston Scientific Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard PRIMECAP Fund. Vanguard Total Stock Market ETF owns 45.84 million shares of the company’s stock, all valued at over $2.56 billion. The company bought an additional 0.21 million shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 0.17 million shares to see its total holdings expand to 35.36 million shares valued at over $1.98 billion and representing 2.41% of the shares outstanding. Vanguard PRIMECAP Fund bought 50000.0 shares to bring its total holdings to over 25.75 million shares at a value of $1.44 billion. Vanguard PRIMECAP Fund now owns shares totaling to 1.76% of the shares outstanding.
However, the script later moved the day high at 56.03, down -0.54%. The company’s stock has a 5-day price change of 0.45% and 4.68% over the past three months. BSX shares are trading 19.97% year to date (YTD), with the 12-month market performance up to 19.84% higher. It has a 12-month low price of $44.35 and touched a high of $56.90 over the same period. BSX has an average intraday trading volume of 7.87 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.25%, 4.68%, and 6.63% respectively.
Institutional ownership of Boston Scientific Corp. (NYSE: BSX) shares accounts for 94.41% of the company’s 1.46B shares outstanding. Mutual fund holders own 39.07%, while other institutional holders and individual stakeholders account for 56.29% and 1.38% respectively.
It has a market capitalization of $81.32B and a beta (3y monthly) value of 0.78. The stock’s trailing 12-month PE ratio is 67.99, while the earnings-per-share (ttm) stands at $0.82. The company has a PEG of 5.48 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 0.49. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.47% over the week and 1.36% over the month.
Analysts forecast that Boston Scientific Corp. (BSX) will achieve an EPS of $0.51 for the current quarter, $0.52 for the next quarter and $2.24 for 2024. The lowest estimate earnings-per-share for the quarter is $0.5 while analysts give the company a high EPS estimate of $0.52. Comparatively, EPS for the current quarter was $0.49 a year ago. Earnings per share for the fiscal year are expected to increase by 17.51%, and 11.41% over the next financial year. EPS should shrink at an annualized rate of 12.40% over the next five years, compared to 42.95% over the past 5-year period.
Looking at the support for the BSX, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on July 19, 2023, with the firm’s price target at $59.
