Lord Abbett & CO. LLC Has $77.91 Million Holdings in Boston Scientific Co. (NYSE:BSX)

Lord Abbett & CO. LLC reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% in the fourth 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 during the last quarter. Global Wealth Strategies & Associates grew its stake in shares of Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 250 shares in the last quarter. West Oak Capital LLC bought a new position in shares of Boston Scientific in the fourth quarter valued at $29,000. Valley National Advisers Inc. grew its stake in shares of 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. Finally, Fairway Wealth LLC bought a new position in shares of Boston Scientific in the fourth quarter valued at $36,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Stifel Nicolaus raised their target price on shares of Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, February 6th. Evercore ISI lifted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. StockNews.com raised shares of Boston Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, Robert W. Baird lifted their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $114.52.

Insider Activity at Boston Scientific

In other news, CFO Daniel J. Brennan sold 15,087 shares of the firm's stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the completion of the transaction, the chief financial officer now owns 241,451 shares of the company's stock, valued at approximately $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction 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 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. Insiders sold a total of 138,009 shares of company stock valued at $14,407,381 in the last quarter. Insiders own 0.50% of the company's stock.

Boston Scientific Price Performance

Shares of Boston Scientific stock traded down $0.50 on Wednesday, reaching $102.24. 1,713,993 shares of the stock were exchanged, compared to its average volume of 7,859,563. The firm's 50 day moving average is $98.56 and its 200-day moving average is $95.08. Boston Scientific Co. has a one year low of $70.97 and a one year high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market cap of $151.22 billion, a PE ratio of 81.79, a P/E/G ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX - Get Free Report) last issued 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. The company had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm's quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Boston Scientific Company Profile

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.