LPL Financial LLC Boosts Position in Boston Scientific Co. (NYSE:BSX)

LPL Financial LLC increased its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 13.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,119,017 shares of the medical equipment provider's stock after purchasing an additional 129,019 shares during the quarter. LPL Financial LLC owned 0.08% of Boston Scientific worth $99,951,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $190,780,000. State Street Corp lifted its holdings in Boston Scientific by 2.3% during the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider's stock valued at $5,266,522,000 after purchasing an additional 1,389,172 shares in the last quarter. Fisher Funds Management LTD purchased a new position in Boston Scientific during the fourth quarter valued at $94,710,000. Fisher Asset Management LLC increased its stake in shares of Boston Scientific by 21.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,800,912 shares of the medical equipment provider's stock worth $518,138,000 after purchasing an additional 1,028,977 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Boston Scientific by 26.0% during the 4th quarter. American Century Companies Inc. now owns 4,488,823 shares of the medical equipment provider's stock worth $400,942,000 after purchasing an additional 925,268 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Piper Sandler boosted their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. TD Cowen raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, December 12th. Raymond James upped their target price 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. Finally, StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $108.91.

Insiders Place Their Bets

In related news, CFO Daniel J. Brennan sold 67,333 shares of the firm'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 value of $7,086,124.92. Following the sale, the chief financial officer now owns 225,808 shares of the company's stock, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $104.25, for a total transaction of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company's stock, valued at $2,966,329.50. This trade represents a 14.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,302 shares of company stock worth $14,319,269 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Trading Down 1.5 %

Shares of NYSE BSX traded down $1.51 during trading on Friday, reaching $99.29. The stock had a trading volume of 7,402,670 shares, compared to its average volume of 6,051,507. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The company has a market cap of $146.86 billion, a P/E ratio of 79.43, a PEG ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a fifty-two week low of $66.80 and a fifty-two week high of $107.17. The business's 50-day moving average price is $102.16 and its 200-day moving average price is $93.11.

Boston Scientific (NYSE:BSX - Get Free Report) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share for the quarter, beating 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%. On average, equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Boston Scientific 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.