Envestnet Asset Management Inc. Increases Stake in Boston Scientific Co. (NYSE:BSX)

Envestnet Asset Management Inc. raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,441,719 shares of the medical equipment provider’s stock after purchasing an additional 43,992 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Boston Scientific were worth $218,094,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new position in Boston Scientific in the 4th quarter valued at about $1,762,522,000. Wellington Management Group LLP boosted its holdings in 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 valued at $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Axiom Investors LLC DE grew its stake in Boston Scientific by 208.2% during the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in Boston Scientific during the 4th quarter worth approximately $190,780,000. Finally, Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE BSX opened at $89.78 on Monday. Boston Scientific Co. has a 1 year low of $66.80 and a 1 year high of $107.17. The firm has a market cap of $132.78 billion, a P/E ratio of 71.82, a PEG ratio of 2.79 and a beta of 0.77. The stock has a fifty day moving average price of $101.90 and a two-hundred day moving average price of $93.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

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

Insider Activity at Boston Scientific

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 shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the completion of the transaction, the executive vice president now directly owns 28,454 shares in the company, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares in the company, valued at $23,764,033.92. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,183 shares of company stock worth $13,948,476 in the last quarter. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

BSX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded 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. Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Raymond James boosted their price objective on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a report on Thursday, February 6th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, Truist Financial upped their price target on Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $108.91.

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.