Assenagon Asset Management S.A. Sells 2,948,084 Shares of Boston Scientific Co. (NYSE:BSX)

Assenagon Asset Management S.A. reduced its position in Boston Scientific Co. (NYSE:BSX) by 75.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 949,033 shares of the medical equipment provider’s stock after selling 2,948,084 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.06% of Boston Scientific worth $84,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the period. Brookstone Capital Management lifted its position in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after acquiring an additional 20,307 shares in the last quarter. HWG Holdings LP bought a new position in shares of Boston Scientific in the second quarter worth about $482,000. Principal Financial Group Inc. grew its position in shares of Boston Scientific by 5.9% during the third quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock worth $168,475,000 after purchasing an additional 111,724 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock worth $289,675,000 after purchasing an additional 30,636 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

BSX stock opened at $96.87 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $142.77 billion, a PE ratio of 80.06, a P/E/G ratio of 2.67 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $59.61 and a 12 month high of $97.36. The company has a 50-day moving average price of $90.36 and a 200 day moving average price of $84.15.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. Equities research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BSX. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Sanford C. Bernstein lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.26.

Insider Activity at Boston Scientific

In other news, EVP Arthur C. Butcher sold 14,010 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John Bradley Sorenson sold 4,119 shares of Boston Scientific stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares of the company’s stock, valued at $3,179,416.38. The trade was a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock worth $2,702,261 in the last 90 days. 0.50% of the stock is owned by corporate 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.