Los Angeles Capital Management LLC Buys 219,201 Shares of Boston Scientific Corporation (NYSE:BSX)

Los Angeles Capital Management LLC grew its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 1,910.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 230,677 shares of the medical equipment provider's stock after purchasing an additional 219,201 shares during the quarter. Los Angeles Capital Management LLC's holdings in Boston Scientific were worth $23,271,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock worth $11,869,805,000 after acquiring an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP increased its holdings in Boston Scientific by 10.2% in the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC increased its holdings in Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider's stock worth $2,729,371,000 after purchasing an additional 1,041,329 shares in the last quarter. Capital World Investors increased its holdings in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Boston Scientific by 2.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after purchasing an additional 554,388 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Performance

Shares of NYSE BSX traded down $1.61 during trading on Thursday, reaching $106.15. 4,199,730 shares of the stock traded hands, compared to its average volume of 7,715,663. Boston Scientific Corporation has a 52-week low of $71.88 and a 52-week high of $108.94. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.45 and a quick ratio of 0.88. The company has a 50-day moving average of $103.55 and a 200-day moving average of $101.31. The stock has a market capitalization of $157.04 billion, a P/E ratio of 77.48, a price-to-earnings-growth ratio of 3.00 and a beta of 0.68.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.72 by $0.03. Boston Scientific had a return on equity of 18.67% and a net margin of 11.58%. The firm had revenue of $5.06 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. Analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, EVP John Bradley Sorenson sold 4,572 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president owned 18,705 shares of the company's stock, valued at $1,955,420.70. This represents a 19.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.69, for a total value of $17,051,094.67. Following the sale, the chief executive officer owned 1,476,882 shares in the company, valued at approximately $153,137,894.58. The trade was a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 457,144 shares of company stock worth $47,296,288 over the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BSX. Truist Financial lifted their target price on Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada boosted their price objective on Boston Scientific from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen upgraded Boston Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and set a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Finally, Jefferies Financial Group restated a "hold" rating on shares of Boston Scientific in a report on Monday. One research analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $117.13.

Boston Scientific 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.