Lazard Asset Management LLC Has $578.63 Million Stake in Boston Scientific Co. (NYSE:BSX)

Lazard Asset Management LLC lessened its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,478,233 shares of the medical equipment provider’s stock after selling 775,800 shares during the quarter. Boston Scientific makes up approximately 0.8% of Lazard Asset Management LLC’s portfolio, making the stock its 28th largest holding. Lazard Asset Management LLC’s holdings in Boston Scientific were worth $578,634,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BSX. Mechanics Bank Trust Department bought a new stake in Boston Scientific in the fourth quarter worth $415,000. Highland Capital Management LLC bought a new stake in shares of Boston Scientific during the 4th quarter worth about $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific during the 4th quarter valued at about $3,405,000. Brookstone Capital Management lifted its holdings in Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares during the last quarter. Finally, Beacon Investment Advisory Services Inc. grew its holdings in Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after purchasing an additional 4,702 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Raymond James raised their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, April 29th. Piper Sandler raised their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Needham & Company LLC boosted their price objective on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Morgan Stanley raised their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Twenty-three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and an average target price of $114.52.

Boston Scientific Stock Performance

Boston Scientific stock opened at $102.87 on Monday. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The stock has a market capitalization of $152.19 billion, a price-to-earnings ratio of 82.30, a P/E/G ratio of 2.79 and a beta of 0.68. 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 stock has a 50-day simple moving average of $98.68 and a 200 day simple moving average of $96.07.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Boston Scientific’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.56 EPS. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the transaction, the executive vice president now directly owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 12,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total transaction of $1,265,760.00. Following the sale, the director now owns 24,398 shares of the company’s stock, valued at $2,573,501.04. The trade was a 32.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 300,497 shares of company stock valued at $31,056,815 over the last 90 days. 0.50% of the stock is owned by company insiders.

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.