Jennison Associates LLC Boosts Stock Position in Boston Scientific Co. (NYSE:BSX)

Jennison Associates LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,227,833 shares of the medical equipment provider’s stock after buying an additional 15,596 shares during the quarter. Jennison Associates LLC’s holdings in Boston Scientific were worth $70,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSX. FMR LLC increased its position in Boston Scientific by 6.8% during the 3rd quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock worth $6,648,595,000 after purchasing an additional 8,045,263 shares in the last quarter. American Century Companies Inc. increased its position in Boston Scientific by 391.6% during the 3rd quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock worth $172,752,000 after purchasing an additional 2,606,253 shares in the last quarter. Wellington Management Group LLP grew its holdings in Boston Scientific by 5.9% in the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after buying an additional 2,336,348 shares during the period. Winslow Capital Management LLC grew its holdings in Boston Scientific by 39.3% in the 3rd quarter. Winslow Capital Management LLC now owns 6,129,573 shares of the medical equipment provider’s stock valued at $323,641,000 after buying an additional 1,730,133 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Boston Scientific by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock valued at $6,534,969,000 after buying an additional 1,525,432 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of several recent analyst reports. Wells Fargo & Company lifted their price target on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Evercore ISI lifted their price target on Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. TD Cowen lifted their price target on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Raymond James lifted their price target on Boston Scientific from $67.00 to $73.00 and gave the company a “strong-buy” rating in a report on Thursday, February 1st. Finally, Argus lifted their price target on Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $68.50.

Boston Scientific Stock Performance

Shares of BSX opened at $68.02 on Tuesday. The business’s 50 day moving average is $67.31 and its two-hundred day moving average is $60.07. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $69.21. The firm has a market cap of $99.79 billion, a price-to-earnings ratio of 63.57, a PEG ratio of 2.36 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the business earned $0.45 EPS. Analysts forecast that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Activity

In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the completion of the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at approximately $3,509,213.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,979 shares of company stock worth $3,418,529. 0.50% of the stock is currently owned by insiders.

About Boston Scientific

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.