Adage Capital Partners GP L.L.C. Raises Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Adage Capital Partners GP L.L.C. boosted its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,620,372 shares of the medical equipment provider's stock after purchasing an additional 16,818 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.18% of Boston Scientific worth $234,052,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Boston Scientific during the 4th quarter valued at approximately $1,762,522,000. Capital World Investors lifted its stake in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Wellington Management Group LLP grew its holdings in Boston Scientific by 10.2% during 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 period. Axiom Investors LLC DE increased its position in Boston Scientific by 208.2% in the fourth quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider's stock worth $335,167,000 after buying an additional 2,535,007 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Boston Scientific in the fourth quarter valued at $190,780,000. Institutional investors own 89.07% of the company's stock.

Boston Scientific Trading Up 1.5 %

Shares of BSX stock opened at $94.96 on Wednesday. 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 has a market cap of $140.45 billion, a P/E ratio of 75.97, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. The business has a 50-day moving average price of $99.00 and a two-hundred day moving average price of $94.55. Boston Scientific Co. has a 12-month low of $67.80 and a 12-month high of $107.17.

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

Wall Street Analysts Forecast Growth

BSX has been the subject of several research reports. UBS Group increased their price target on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Morgan Stanley lifted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Citigroup boosted their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Piper Sandler lifted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Truist Financial dropped their target price on Boston Scientific from $120.00 to $113.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $110.22.

Insiders Place Their Bets

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares of the company's stock, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 138,009 shares of company stock valued at $14,407,381 in the last quarter. Insiders own 0.50% of the company's stock.

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.

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