Jennison Associates LLC Raises Stake in Boston Scientific Corporation $BSX

Jennison Associates LLC grew its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 133.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,938,746 shares of the medical equipment provider’s stock after acquiring an additional 2,823,744 shares during the period. Jennison Associates LLC’s holdings in Boston Scientific were worth $482,170,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BSX. Norges Bank bought a new stake in Boston Scientific during the second quarter valued at approximately $2,089,937,000. Edgewood Management LLC purchased a new position in shares of Boston Scientific during the second quarter valued at approximately $746,655,000. Parnassus Investments LLC increased its position in shares of Boston Scientific by 42,978.9% during the third quarter. Parnassus Investments LLC now owns 6,884,440 shares of the medical equipment provider’s stock valued at $672,128,000 after buying an additional 6,868,459 shares during the period. Bessemer Group Inc. lifted its holdings in Boston Scientific by 14,391.8% in the second quarter. Bessemer Group Inc. now owns 2,919,801 shares of the medical equipment provider’s stock worth $313,618,000 after buying an additional 2,899,653 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.9% during the second quarter. Vanguard Group Inc. now owns 137,134,110 shares of the medical equipment provider’s stock valued at $14,729,575,000 after acquiring an additional 2,545,381 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on BSX. Evercore ISI set a $112.00 price target on Boston Scientific in a research report on Monday, January 5th. BTIG Research reaffirmed a “buy” rating and issued a $132.00 price objective on shares of Boston Scientific in a research note on Friday, November 21st. Wells Fargo & Company upped their price target on Boston Scientific from $124.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Canaccord Genuity Group lowered their price objective on Boston Scientific from $132.00 to $131.00 and set a “buy” rating for the company in a research note on Wednesday, December 17th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.89.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $92.56 on Friday. The business’s 50 day simple moving average is $95.70 and its 200-day simple moving average is $99.87. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The firm has a market capitalization of $137.22 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.67. Boston Scientific Corporation has a 12 month low of $85.98 and a 12 month high of $109.50.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 22nd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.04. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $4.97 billion. Boston Scientific had a return on equity of 19.46% and a net margin of 14.43%.The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. As a group, equities analysts forecast that Boston Scientific Corporation will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Boston Scientific news, Director Ellen M. Zane sold 12,891 shares of the firm’s stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the completion of the sale, the director directly owned 24,134 shares in the company, valued at approximately $2,371,889.52. This trade represents a 34.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the sale, the executive vice president directly owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. The trade was a 42.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 93,095 shares of company stock valued at $9,305,450 over the last three months. Insiders own 0.50% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.