Boston Scientific Co. (NYSE:BSX) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC cut its stake in Boston Scientific Co. (NYSE:BSX) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 872,264 shares of the medical equipment provider’s stock after selling 68,850 shares during the quarter. Lord Abbett & CO. LLC owned approximately 0.06% of Boston Scientific worth $77,911,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Boston Scientific in the 4th quarter valued at $1,762,522,000. Capital World Investors raised its position in shares of Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock worth $2,492,041,000 after acquiring an additional 6,216,199 shares during the period. Wellington Management Group LLP raised its position in shares of Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after acquiring an additional 3,344,571 shares during the period. Axiom Investors LLC DE boosted its stake in shares of Boston Scientific by 208.2% during the 4th quarter. Axiom Investors LLC DE now owns 3,752,430 shares of the medical equipment provider’s stock worth $335,167,000 after acquiring an additional 2,535,007 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Boston Scientific during the 4th quarter valued at about $190,780,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Transactions at Boston Scientific

In other news, CFO Daniel J. Brennan sold 67,333 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $3,441,592.37. The trade was a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 138,009 shares of company stock worth $14,407,381. 0.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BSX shares. Raymond James increased their price target on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Truist Financial increased their target price on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Morgan Stanley lifted their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Finally, Argus set a $130.00 price target on shares of Boston Scientific in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $114.22.

Boston Scientific Trading Up 2.2 %

Shares of BSX opened at $101.13 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50-day moving average price of $98.75 and a 200 day moving average price of $94.69. Boston Scientific Co. has a 12-month low of $70.97 and a 12-month high of $107.17. The firm has a market capitalization of $149.58 billion, a P/E ratio of 80.90, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current 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.