AQR Capital Management LLC Sells 53,014 Shares of Boston Scientific Co. (NYSE:BSX)

AQR Capital Management LLC cut its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 911,936 shares of the medical equipment provider's stock after selling 53,014 shares during the period. AQR Capital Management LLC owned approximately 0.06% of Boston Scientific worth $81,454,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Parnassus Investments LLC raised its holdings in Boston Scientific by 0.7% in the fourth quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider's stock valued at $1,327,000 after buying an additional 97 shares during the period. Evergreen Capital Management LLC increased its holdings in Boston Scientific by 1.7% in the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider's stock valued at $565,000 after purchasing an additional 106 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Boston Scientific by 1.5% during the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider's stock worth $668,000 after purchasing an additional 113 shares in the last quarter. Adero Partners LLC raised its holdings in shares of Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider's stock valued at $334,000 after buying an additional 120 shares during the period. Finally, Tradition Wealth Management LLC grew its position in Boston Scientific by 2.2% in the fourth quarter. Tradition Wealth Management LLC now owns 5,510 shares of the medical equipment provider's stock valued at $492,000 after acquiring an additional 121 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

Shares of BSX traded down $0.20 on Tuesday, hitting $104.04. The company's stock had a trading volume of 1,031,205 shares, compared to its average volume of 6,315,455. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The company has a market capitalization of $153.89 billion, a PE ratio of 83.29, a PEG ratio of 2.79 and a beta of 0.68. The company has a 50 day moving average price of $98.64 and a 200 day moving average price of $95.60. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm posted $0.56 earnings per share. Boston Scientific's revenue for the quarter was up 20.9% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. The trade was a 9.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now directly owns 22,235 shares in the company, valued at approximately $2,269,304.10. This represents a 43.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 302,453 shares of company stock valued at $31,264,103. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on BSX. Stifel Nicolaus increased their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Royal Bank of Canada increased their price target on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Morgan Stanley upped their price objective on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Piper Sandler lifted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and an average target price of $114.52.

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.