Geode Capital Management LLC Has $2.73 Billion Position in Boston Scientific Co. (NYSE:BSX)

Geode Capital Management LLC raised its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,626,170 shares of the medical equipment provider's stock after buying an additional 1,041,329 shares during the quarter. Geode Capital Management LLC owned about 2.08% of Boston Scientific worth $2,729,371,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Nemes Rush Group LLC boosted its holdings in Boston Scientific by 312.3% in the 4th quarter. Nemes Rush Group LLC now owns 635 shares of the medical equipment provider's stock valued at $57,000 after purchasing an additional 481 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Boston Scientific by 9.0% in the fourth quarter. HighPoint Advisor Group LLC now owns 20,429 shares of the medical equipment provider's stock valued at $1,825,000 after buying an additional 1,683 shares during the period. Franklin Resources Inc. grew its position in Boston Scientific by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider's stock worth $1,477,307,000 after buying an additional 832,386 shares in the last quarter. Summit Financial LLC increased its stake in Boston Scientific by 13.2% during the fourth quarter. Summit Financial LLC now owns 29,483 shares of the medical equipment provider's stock valued at $2,633,000 after acquiring an additional 3,428 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Boston Scientific by 6.4% in the 4th quarter. Alliancebernstein L.P. now owns 1,847,919 shares of the medical equipment provider's stock valued at $165,056,000 after acquiring an additional 110,934 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

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Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Jeffrey B. Mirviss sold 4,675 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares of the company's stock, valued at approximately $2,966,329.50. This represents a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was 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 owns 5,502 shares of the company's stock, valued at $560,103.60. The trade was a 75.88 % 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 in the last three months. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on BSX shares. TD Cowen lifted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, December 16th. Needham & Company LLC restated a "hold" rating on shares of Boston Scientific in a research note on Monday, March 3rd. Morgan Stanley lifted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Finally, Raymond James increased their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $108.91.

Boston Scientific Price Performance

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

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, 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%. As a group, equities analysts expect that Boston Scientific Co. will post 2.85 earnings per share 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.