Lazard Asset Management LLC Increases Holdings in Boston Scientific Corporation $BSX

Lazard Asset Management LLC boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 24.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,880,504 shares of the medical equipment provider's stock after buying an additional 970,473 shares during the period. Lazard Asset Management LLC owned 0.33% of Boston Scientific worth $306,252,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. FWL Investment Management LLC purchased a new position in shares of Boston Scientific during the 2nd quarter worth $26,000. Swiss RE Ltd. acquired a new stake in Boston Scientific during the fourth quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in Boston Scientific during the fourth quarter worth about $26,000. Bangor Savings Bank raised its stake in Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 142 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new position in Boston Scientific in the 1st quarter valued at about $28,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of BSX stock opened at $44.26 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The firm has a market cap of $65.78 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.85 and a beta of 0.58. The firm's 50 day moving average price is $47.21 and its 200-day moving average price is $63.84. Boston Scientific Corporation has a one year low of $42.20 and a one year high of $109.50.

Boston Scientific declared that its board has approved a stock buyback plan on Monday, May 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James Financial reissued an "outperform" rating and issued a $88.00 price target (down from $97.00) on shares of Boston Scientific in a research note on Monday, March 30th. Stifel Nicolaus decreased their price objective on Boston Scientific from $75.00 to $65.00 and set a "buy" rating on the stock in a report on Thursday, June 25th. Citigroup lowered their price objective on Boston Scientific from $87.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, May 28th. Wells Fargo & Company restated an "equal weight" rating and issued a $55.00 target price (down from $75.00) on shares of Boston Scientific in a research report on Thursday, May 28th. Finally, Mizuho decreased their price target on Boston Scientific from $90.00 to $70.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.84.

Insider Transactions at Boston Scientific

In other news, Director Cheryl Pegus acquired 1,770 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the acquisition, the director owned 1,770 shares of the company's stock, valued at $99,987.30. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig bought 3,580 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the purchase, the director owned 25,359 shares in the company, valued at $1,437,348.12. This represents a 16.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 9,800 shares of company stock worth $554,012 over the last ninety days. Company insiders own 0.34% of the company's stock.

Boston Scientific Company Profile

Boston Scientific Corporation NYSE: BSX is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific's activities span product development, clinical research, regulatory affairs and commercial sales.

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