Boston Scientific Co. (NYSE:BSX) is Avidity Partners Management LP's 2nd Largest Position

Avidity Partners Management LP trimmed its position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 46.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 515,000 shares of the medical equipment provider's stock after selling 447,000 shares during the period. Boston Scientific comprises about 4.5% of Avidity Partners Management LP's portfolio, making the stock its 2nd biggest position. Avidity Partners Management LP's holdings in Boston Scientific were worth $46,000,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BSX. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 210 shares in the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific in the fourth quarter valued at $29,000. Valley National Advisers Inc. raised its stake in Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider's stock valued at $35,000 after buying an additional 286 shares in the last quarter. Fairway Wealth LLC purchased a new stake in Boston Scientific during the 4th quarter worth about $36,000. Finally, Global Trust Asset Management LLC lifted its holdings in Boston Scientific by 64.5% during the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider's stock worth $39,000 after buying an additional 171 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BSX. Raymond James raised their target price 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. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Barclays upped their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Truist Financial lifted their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Twenty-three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific currently has a consensus rating of "Buy" and a consensus price target of $114.52.

Boston Scientific Stock Up 1.7 %

Shares of Boston Scientific stock opened at $104.94 on Friday. The company has a market cap of $155.21 billion, a P/E ratio of 83.95, a PEG ratio of 2.79 and a beta of 0.68. The firm has a fifty day moving average of $98.59 and a two-hundred day moving average of $95.42. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a one year low of $71.88 and a one year high of $107.17.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating 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 firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter last year, the firm earned $0.56 earnings per share. The firm's revenue was up 20.9% compared to the same quarter last year. On average, analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total value of $1,585,191.09. Following the completion of the transaction, the chief financial officer now directly owns 241,451 shares of the company's stock, valued at $25,369,256.57. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock valued at $14,407,381 over the last quarter. Company insiders own 0.50% of the company's stock.

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.

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