Marshall Wace LLP Raises Stake in Boston Scientific Co. (NYSE:BSX)

Marshall Wace LLP increased its stake in Boston Scientific Co. (NYSE:BSX) by 115.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,720,480 shares of the medical equipment provider’s stock after buying an additional 3,608,158 shares during the quarter. Boston Scientific accounts for approximately 0.7% of Marshall Wace LLP’s portfolio, making the stock its 13th largest holding. Marshall Wace LLP owned 0.46% of Boston Scientific worth $517,544,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. Putnam Investments LLC raised its stake in Boston Scientific by 110.5% in the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares during the period. Capital World Investors raised its stake in Boston Scientific by 236.1% in the 4th quarter. Capital World Investors now owns 9,419,829 shares of the medical equipment provider’s stock valued at $544,560,000 after acquiring an additional 6,617,360 shares during the period. Capital Research Global Investors bought a new stake in Boston Scientific in the 1st quarter valued at about $182,897,000. Vanguard Group Inc. raised its stake in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in Boston Scientific by 11,484.5% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,705,468 shares of the medical equipment provider’s stock valued at $98,593,000 after acquiring an additional 1,690,746 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total value of $517,579.96. Following the completion of the sale, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BSX has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Truist Financial upped their price target on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft upped their price target on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. TD Cowen upped their price target on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, BTIG Research upped their price objective on shares of Boston Scientific from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.65.

Boston Scientific Stock Up 0.1 %

Shares of BSX opened at $84.00 on Tuesday. The firm has a market cap of $123.24 billion, a P/E ratio of 70.59, a P/E/G ratio of 2.75 and a beta of 0.79. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The stock has a 50 day simple moving average of $78.84 and a two-hundred day simple moving average of $74.84.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $4.02 billion. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Boston Scientific Company 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.