Alliancebernstein L.P. Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Alliancebernstein L.P. lifted its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 6.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,847,919 shares of the medical equipment provider's stock after purchasing an additional 110,934 shares during the quarter. Alliancebernstein L.P. owned about 0.13% of Boston Scientific worth $165,056,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $1,762,522,000. Wellington Management Group LLP lifted its stake in Boston Scientific by 10.2% during the 4th 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 acquiring an additional 3,344,571 shares during the period. Axiom Investors LLC DE boosted its holdings in shares of Boston Scientific by 208.2% in 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 acquiring an additional 2,535,007 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Boston Scientific in the fourth quarter worth $190,780,000. Finally, Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

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Boston Scientific Stock Performance

NYSE BSX traded down $8.73 during trading hours on Friday, hitting $89.78. 22,572,180 shares of the stock were exchanged, compared to its average volume of 6,188,157. Boston Scientific Co. has a 12-month low of $66.80 and a 12-month high of $107.17. The stock has a 50-day moving average of $101.90 and a 200 day moving average of $93.63. The company has a market cap of $132.78 billion, a price-to-earnings ratio of 71.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on BSX shares. Citigroup raised their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Raymond James lifted their target price on shares of Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a report on Thursday, February 6th. Truist Financial increased their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Stifel Nicolaus lifted their price objective on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Finally, Barclays increased their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Two research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $108.91.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. The trade was a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 6,528 shares of Boston Scientific stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now directly owns 26,449 shares of the company's stock, valued at $2,776,351.53. The trade was a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,183 shares of company stock worth $13,948,476 over the last ninety days. 0.50% of the stock is currently owned by insiders.

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.