Invesco Ltd. Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Invesco Ltd. increased its position in Boston Scientific Co. (NYSE:BSX) by 13.6% in the 4th quarter, HoldingsChannel reports. The fund owned 15,790,666 shares of the medical equipment provider’s stock after purchasing an additional 1,893,012 shares during the period. Invesco Ltd.’s holdings in Boston Scientific were worth $1,410,422,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of BSX. Norges Bank purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $1,762,522,000. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after buying an additional 3,344,571 shares during the period. Axiom Investors LLC DE boosted its stake in shares of Boston Scientific by 208.2% during the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock valued at $335,167,000 after purchasing an additional 2,535,007 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Boston Scientific in the fourth quarter valued at about $190,780,000. Finally, Vanguard Group Inc. grew its stake in shares of Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Down 8.9 %

Shares of BSX opened at $89.78 on Monday. Boston Scientific Co. has a 52-week low of $66.80 and a 52-week high of $107.17. The stock has a market cap of $132.78 billion, a PE ratio of 71.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average is $101.90 and its two-hundred day moving average is $93.71.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BSX shares. Piper Sandler boosted their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus upped their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a research note on Friday, January 10th. Finally, Citigroup upped their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Insider Buying and Selling

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company’s stock, valued at approximately $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,183 shares of company stock valued at $13,948,476. 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.