Envestnet Asset Management Inc. Raises Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Envestnet Asset Management Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 1.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,441,719 shares of the medical equipment provider's stock after buying an additional 43,992 shares during the period. Envestnet Asset Management Inc. owned about 0.17% of Boston Scientific worth $218,094,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.2% during the 4th 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. Wellington Management Group LLP increased its position 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 worth $3,230,293,000 after buying an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC increased its position in Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after buying an additional 1,041,329 shares during the last quarter. Norges Bank bought a new stake in shares of Boston Scientific in the fourth quarter valued at $1,762,522,000. Finally, Franklin Resources Inc. lifted its position in shares of Boston Scientific by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock valued at $1,477,307,000 after buying an additional 832,386 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research reports. Argus set a $130.00 price objective on Boston Scientific in a research note on Tuesday, February 18th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a "hold" rating to a "buy" rating and set a $108.00 price target on the stock in a research report on Friday, January 10th. Morgan Stanley raised their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays boosted their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Finally, Stifel Nicolaus increased their target price on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Two equities 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 company's stock. According to data from MarketBeat, Boston Scientific currently has an average rating of "Moderate Buy" and an average target price of $109.04.

Insiders Place Their Bets

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $104.97, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock valued at $13,948,476 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of NYSE BSX traded up $1.02 during mid-day trading on Friday, reaching $93.66. 8,303,541 shares of the company were exchanged, compared to its average volume of 6,351,456. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The company's 50 day moving average price is $100.54 and its 200 day moving average price is $94.02. The stock has a market capitalization of $138.53 billion, a PE ratio of 74.93, a PEG ratio of 2.79 and a beta of 0.73. 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 issued its quarterly 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%. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

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.