Boston Scientific Corporation $BSX Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC increased its stake in Boston Scientific Corporation (NYSE:BSX) by 24.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,880,504 shares of the medical equipment provider’s stock after acquiring an additional 970,473 shares during the period. Lazard Asset Management LLC’s holdings in Boston Scientific were worth $306,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. FWL Investment Management LLC acquired a new stake in Boston Scientific in the 2nd quarter valued at about $26,000. Swiss RE Ltd. acquired a new position in shares of Boston Scientific during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth approximately $26,000. Bangor Savings Bank raised its holdings in Boston Scientific by 94.7% in the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 142 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in Boston Scientific in the first quarter valued at approximately $28,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Up 0.0%

BSX opened at $44.26 on Monday. Boston Scientific Corporation has a one year low of $42.20 and a one year high of $109.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The stock has a market capitalization of $65.78 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. The business’s 50-day simple moving average is $47.21 and its 200-day simple moving average is $63.84.

Boston Scientific declared that its board has approved a share repurchase plan on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have commented on BSX. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $55.00 price objective (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Needham & Company LLC dropped their target price on Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Mizuho cut their price target on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Finally, Truist Financial decreased their price target on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Insiders Place Their Bets

In other Boston Scientific news, Director Cheryl Pegus bought 1,770 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the transaction, the director owned 1,770 shares in the company, valued at approximately $99,987.30. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward J. Ludwig bought 3,580 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was acquired at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the acquisition, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 9,800 shares of company stock valued at $554,012 over the last quarter. Company insiders own 0.34% of the company’s stock.

Boston Scientific Company 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.