Jennison Associates LLC Increases Stock Position in Boston Scientific Corporation $BSX

Jennison Associates LLC increased its holdings in Boston Scientific Corporation (NYSE:BSX) by 133.5% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,938,746 shares of the medical equipment provider’s stock after buying an additional 2,823,744 shares during the quarter. Jennison Associates LLC owned about 0.33% of Boston Scientific worth $482,170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BSX. Riverwater Partners LLC grew its stake in shares of Boston Scientific by 3.3% during the 2nd quarter. Riverwater Partners LLC now owns 3,104 shares of the medical equipment provider’s stock valued at $333,000 after acquiring an additional 98 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its position in shares of Boston Scientific by 3.8% during the second quarter. Gerber Kawasaki Wealth & Investment Management now owns 2,711 shares of the medical equipment provider’s stock valued at $291,000 after purchasing an additional 99 shares in the last quarter. Crown Wealth Group LLC raised its holdings in shares of Boston Scientific by 4.7% during the 3rd quarter. Crown Wealth Group LLC now owns 2,238 shares of the medical equipment provider’s stock worth $218,000 after acquiring an additional 100 shares in the last quarter. IVC Wealth Advisors LLC grew its stake in shares of Boston Scientific by 4.9% in the 2nd quarter. IVC Wealth Advisors LLC now owns 2,199 shares of the medical equipment provider’s stock worth $236,000 after buying an additional 102 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC increased its stake in Boston Scientific by 3.9% during the second quarter. Sound View Wealth Advisors Group LLC now owns 2,738 shares of the medical equipment provider’s stock worth $294,000 after acquiring an additional 103 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Transactions at Boston Scientific

In related news, Director Ellen M. Zane sold 12,891 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the transaction, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. The trade was a 34.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 50,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $99.47, for a total transaction of $4,973,500.00. Following the completion of the transaction, the executive vice president directly owned 178,342 shares in the company, valued at $17,739,678.74. The trade was a 21.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 93,095 shares of company stock worth $9,305,450 in the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $92.56 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50. The firm’s 50 day simple moving average is $95.70 and its 200-day simple moving average is $99.87. The company has a market cap of $137.22 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.71 by $0.04. The company had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. As a group, equities research analysts predict that Boston Scientific Corporation will post 2.85 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on BSX. Robert W. Baird boosted their target price on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada increased their price objective on shares of Boston Scientific from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $112.00 price target on shares of Boston Scientific in a research note on Friday, January 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Boston Scientific in a research report on Wednesday. Finally, Barclays raised their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the company an “overweight” rating in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average price target of $123.89.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.