Invesco Ltd. Raises Holdings in Boston Scientific Co. (NYSE:BSX)

Invesco Ltd. grew its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 13.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,790,666 shares of the medical equipment provider's stock after purchasing an additional 1,893,012 shares during the period. Invesco Ltd. owned approximately 1.07% of Boston Scientific worth $1,410,422,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in BSX. Mechanics Bank Trust Department acquired a new position in Boston Scientific during the 4th quarter worth about $415,000. Highland Capital Management LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth about $4,887,000. Covenant Asset Management LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at approximately $3,405,000. Brookstone Capital Management grew its holdings in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider's stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. increased its stake in Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after buying an additional 4,702 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 26,449 shares of the company's stock, valued at approximately $2,776,351.53. This trade represents a 19.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 directly owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock worth $13,948,476 over the last three months. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Performance

BSX stock traded up $1.02 during trading on Friday, hitting $93.66. The company had a trading volume of 8,303,541 shares, compared to its average volume of 6,351,456. The firm has a 50-day moving average price of $100.54 and a 200-day moving average price of $94.02. 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 $138.53 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73. Boston Scientific Co. has a 1-year low of $66.80 and a 1-year high of $107.17.

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

Analysts Set New Price Targets

BSX has been the subject of several research reports. Royal Bank of Canada boosted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. StockNews.com cut Boston Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, March 8th. Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the company a "strong-buy" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. Finally, Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.04.

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.