Jennison Associates LLC Sells 511,463 Shares of Boston Scientific Co. (NYSE:BSX)

Jennison Associates LLC trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 25.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,528,181 shares of the medical equipment provider's stock after selling 511,463 shares during the period. Jennison Associates LLC owned about 0.10% of Boston Scientific worth $128,062,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC purchased a new position in Boston Scientific during the second quarter worth approximately $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the 3rd quarter worth $28,000. Andra AP fonden purchased a new position in shares of Boston Scientific during the 2nd quarter worth $29,000. Lynx Investment Advisory purchased a new position in shares of Boston Scientific during the 2nd quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific during the 3rd quarter valued at about $30,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of BSX opened at $90.17 on Thursday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $132.90 billion, a P/E ratio of 74.52, a price-to-earnings-growth ratio of 2.66 and a beta of 0.79. The stock's 50-day moving average price is $85.71 and its two-hundred day moving average price is $79.92. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.08.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company's revenue was up 19.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, equities analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of recent analyst reports. Robert W. Baird raised their price objective on Boston Scientific from $90.00 to $91.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Citigroup lifted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Thursday, July 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Boston Scientific in a research report on Monday. Finally, Morgan Stanley boosted their target price on Boston Scientific from $92.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific has an average rating of "Moderate Buy" and an average price target of $93.39.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares of the company's stock, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

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.