Boston Scientific Co. (NYSE:BSX) Stake Boosted by Gotham Asset Management LLC

Gotham Asset Management LLC grew its stake in shares of Boston Scientific Co. (NYSE:BSX) by 43.7% during the 4th quarter, HoldingsChannel reports. The fund owned 11,430 shares of the medical equipment provider’s stock after acquiring an additional 3,475 shares during the period. Gotham Asset Management LLC’s holdings in Boston Scientific were worth $1,021,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Parnassus Investments LLC boosted its holdings in Boston Scientific by 0.7% during the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after acquiring an additional 97 shares during the period. Baldwin Investment Management LLC grew its stake in Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after buying an additional 102 shares during the last quarter. Evergreen Capital Management LLC grew its stake in Boston Scientific by 1.7% during the fourth quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after buying an additional 106 shares during the last quarter. PDS Planning Inc grew its stake in Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after buying an additional 113 shares during the last quarter. Finally, Adero Partners LLC grew its stake in shares of Boston Scientific by 3.3% during the fourth quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after purchasing an additional 120 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 1.1%

Boston Scientific stock opened at $106.00 on Friday. The company has a market cap of $156.83 billion, a P/E ratio of 84.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a fifty day simple moving average of $99.18 and a 200 day simple moving average of $96.66. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

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

Wall Street Analyst Weigh In

BSX has been the topic of several analyst reports. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. BTIG Research restated a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Truist Financial raised their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Citigroup raised their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Raymond James raised their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a report on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $114.74.

Insider Activity

In other news, EVP John Bradley Sorenson sold 4,572 shares of Boston Scientific stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the transaction, the executive vice president now owns 18,705 shares of the company’s stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This trade represents a 9.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 265,820 shares of company stock valued at $27,406,958 in the last quarter. Company insiders own 0.50% of the company’s stock.

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.