Zweig DiMenna Associates LLC Raises Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Zweig DiMenna Associates LLC increased its position in Boston Scientific Co. (NYSE:BSX) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 282,900 shares of the medical equipment provider’s stock after purchasing an additional 11,900 shares during the period. Boston Scientific accounts for 1.9% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 11th biggest position. Zweig DiMenna Associates LLC’s holdings in Boston Scientific were worth $25,269,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the period. Wellington Management Group LLP grew its stake in Boston Scientific by 2.2% in the third quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after purchasing an additional 718,515 shares during the period. Geode Capital Management LLC grew its stake in Boston Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock worth $2,469,607,000 after purchasing an additional 480,729 shares during the period. Legal & General Group Plc grew its stake in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after acquiring an additional 360,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of BSX stock opened at $101.67 on Friday. Boston Scientific Co. has a 52-week low of $59.97 and a 52-week high of $101.90. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a market capitalization of $149.84 billion, a P/E ratio of 84.13, a P/E/G ratio of 2.63 and a beta of 0.80. The stock has a 50 day moving average price of $91.68 and a 200 day moving average price of $85.04.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period in the previous year, the company posted $0.50 EPS. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on BSX. JPMorgan Chase & Co. increased their target price on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Stifel Nicolaus increased their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Truist Financial increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. StockNews.com downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, BTIG Research raised their price objective on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.26.

Insider Activity

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares in the company, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,989 shares of company stock worth $2,702,261. 0.50% of the stock is currently owned by company 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.