Jennison Associates LLC Increases Stake in Boston Scientific Co. (NYSE:BSX)

Jennison Associates LLC lifted its stake in Boston Scientific Co. (NYSE:BSX) by 1.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,227,833 shares of the medical equipment provider’s stock after purchasing an additional 15,596 shares during the quarter. Jennison Associates LLC owned about 0.08% of Boston Scientific worth $70,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC raised 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 buying an additional 8,045,263 shares during the last quarter. American Century Companies Inc. raised 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 buying an additional 2,606,253 shares during the last quarter. Wellington Management Group LLP raised its position in Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after buying an additional 2,336,348 shares during the last quarter. Winslow Capital Management LLC raised its position in Boston Scientific by 39.3% during the 3rd quarter. Winslow Capital Management LLC now owns 6,129,573 shares of the medical equipment provider’s stock worth $323,641,000 after buying an additional 1,730,133 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Boston Scientific by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock worth $6,534,969,000 after buying an additional 1,525,432 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.0 %

Shares of NYSE:BSX opened at $68.02 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a market capitalization of $99.79 billion, a PE ratio of 63.57, a price-to-earnings-growth ratio of 2.36 and a beta of 0.78. The firm’s 50-day moving average is $67.31 and its two-hundred day moving average is $60.07. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $69.21.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on BSX shares. TD Cowen raised their price target on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. lifted their target price on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Mizuho raised shares of Boston Scientific from a “neutral” rating to a “buy” rating and lifted their target price for the company from $65.00 to $80.00 in a report on Thursday, February 1st. Finally, Oppenheimer lifted their target price on shares of Boston Scientific from $58.00 to $68.00 and gave the company a “market perform” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Insiders Place Their Bets

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the sale, the chief financial officer now directly owns 271,542 shares in the company, valued at $17,883,756.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold 50,979 shares of company stock worth $3,418,529 over the last three months. Company insiders own 0.50% of the company’s stock.

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.