Assenagon Asset Management S.A. Buys 951,580 Shares of Boston Scientific Co. (NYSE:BSX)

Assenagon Asset Management S.A. raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 32.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,897,117 shares of the medical equipment provider’s stock after purchasing an additional 951,580 shares during the period. Boston Scientific accounts for approximately 0.6% of Assenagon Asset Management S.A.’s holdings, making the stock its 22nd biggest position. Assenagon Asset Management S.A. owned 0.27% of Boston Scientific worth $326,578,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors increased its holdings in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares during the last quarter. Marshall Wace LLP increased its stake in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. Capital Research Global Investors purchased a new stake in Boston Scientific during the first quarter valued at approximately $182,897,000. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 316,253 shares of company stock valued at $26,714,298 over the last ninety days. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

BSX has been the subject of a number of analyst reports. Truist Financial raised their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Morgan Stanley raised their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Canaccord Genuity Group boosted their target price on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday. Finally, BTIG Research upped their target price on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.09.

Boston Scientific Stock Down 1.8 %

NYSE BSX traded down $1.59 during trading on Thursday, hitting $85.86. The company’s stock had a trading volume of 4,002,365 shares, compared to its average volume of 6,011,844. Boston Scientific Co. has a fifty-two week low of $49.15 and a fifty-two week high of $88.79. The company has a market cap of $125.96 billion, a PE ratio of 72.02, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The business’s 50 day simple moving average is $83.19 and its 200-day simple moving average is $77.57.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period last year, the business earned $0.50 EPS. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS 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.