Boston Scientific Co. (NYSE:BSX) Position Increased by Gotham Asset Management LLC

Gotham Asset Management LLC increased its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 43.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,430 shares of the medical equipment provider's stock after purchasing an additional 3,475 shares during the period. Gotham Asset Management LLC's holdings in Boston Scientific were worth $1,021,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Focus Partners Wealth boosted its stake in Boston Scientific by 156.5% in the fourth quarter. Focus Partners Wealth now owns 379,253 shares of the medical equipment provider's stock valued at $33,881,000 after acquiring an additional 231,371 shares during the period. Fullerton Fund Management Co Ltd. boosted its stake in Boston Scientific by 52.3% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 1,553,156 shares of the medical equipment provider's stock valued at $138,728,000 after acquiring an additional 533,346 shares during the period. Ellevest Inc. boosted its stake in Boston Scientific by 4.9% in the fourth quarter. Ellevest Inc. now owns 13,923 shares of the medical equipment provider's stock valued at $1,244,000 after acquiring an additional 650 shares during the period. Ethic Inc. boosted its stake in Boston Scientific by 24.1% in the fourth quarter. Ethic Inc. now owns 241,929 shares of the medical equipment provider's stock valued at $21,609,000 after acquiring an additional 46,946 shares during the period. Finally, Fullcircle Wealth LLC acquired a new position in Boston Scientific in the fourth quarter valued at approximately $207,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $1.87 during trading on Wednesday, hitting $104.67. The company had a trading volume of 8,076,025 shares, compared to its average volume of 6,381,469. The company has a market cap of $154.85 billion, a P/E ratio of 83.73, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The business's 50-day moving average is $99.61 and its 200 day moving average is $96.97. 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 (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. The firm had revenue of $4.66 billion for the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company's quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 EPS. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total value of $477,956.88. Following the completion of the sale, the executive vice president now owns 18,705 shares in the company, valued at $1,955,420.70. This represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the sale, the senior vice president now 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 195,830 shares of company stock worth $20,043,415 over the last quarter. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on BSX. Barclays lifted their target price on Boston Scientific from $118.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Truist Financial lifted their target price on Boston Scientific from $113.00 to $117.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Morgan Stanley lifted their price target on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, UBS Group lifted their price target on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Twenty-three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $114.74.

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.