Jennison Associates LLC Increases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Jennison Associates LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 27.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,942,955 shares of the medical equipment provider’s stock after purchasing an additional 414,774 shares during the period. Jennison Associates LLC’s holdings in Boston Scientific were worth $173,545,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of BSX. Global Wealth Strategies & Associates raised its position in shares of Boston Scientific by 423.7% during the 4th 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 during the period. West Oak Capital LLC acquired a new stake in Boston Scientific during the fourth quarter worth $29,000. Dunhill Financial LLC raised its position in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 152 shares during the period. Values First Advisors Inc. acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $28,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on BSX. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, January 29th. Raymond James upped their price target on Boston Scientific from $101.00 to $119.00 and gave the stock a “strong-buy” rating in a research note on Friday. Morgan Stanley lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Bank of America increased their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $99.73.

Insider Buying and Selling

In related news, EVP John Bradley Sorenson sold 4,119 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now owns 35,319 shares in the company, valued at $3,179,416.38. This represents a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,989 shares of company stock worth $2,702,261 in the last ninety days. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Stock Down 0.6 %

BSX stock opened at $102.40 on Monday. The stock has a market cap of $150.92 billion, a P/E ratio of 84.63, a PEG ratio of 2.68 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $62.63 and a twelve month high of $104.25. The company’s 50 day moving average is $93.47 and its two-hundred day moving average is $86.33.

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.