Wellington Management Group LLP Has $2.75 Billion Position in Boston Scientific Co. (NYSE:BSX)

Wellington Management Group LLP lifted its stake in Boston Scientific Co. (NYSE:BSX) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,820,828 shares of the medical equipment provider’s stock after purchasing an additional 718,515 shares during the period. Wellington Management Group LLP owned 2.23% of Boston Scientific worth $2,750,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BSX. Marshall Wace LLP grew its holdings in Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd grew its holdings in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock worth $224,320,000 after acquiring an additional 2,615,903 shares during the period. Ameriprise Financial Inc. grew its holdings in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 shares during the period. State Street Corp grew its holdings in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after acquiring an additional 1,389,172 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider’s stock worth $184,810,000 after acquiring an additional 1,091,561 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares in the company, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,957,676 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on BSX shares. Citigroup lifted their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 27th. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Bank of America boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Trading Down 0.3 %

Shares of NYSE:BSX opened at $90.53 on Friday. The company’s 50-day moving average price is $87.27 and its two-hundred day moving average price is $81.16. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a one year low of $54.31 and a one year high of $91.93. The stock has a market capitalization of $133.43 billion, a PE ratio of 74.82, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the firm posted $0.50 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

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.