Assenagon Asset Management S.A. Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

Assenagon Asset Management S.A. lessened its position in shares of Boston Scientific Co. (NYSE:BSX) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,945,537 shares of the medical equipment provider’s stock after selling 144,116 shares during the quarter. Boston Scientific accounts for 0.5% of Assenagon Asset Management S.A.’s portfolio, making the stock its 28th largest position. Assenagon Asset Management S.A. owned approximately 0.20% of Boston Scientific worth $226,836,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. First Foundation Advisors acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $25,000. Eagle Bay Advisors LLC lifted its holdings in shares of Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the period. Lynx Investment Advisory acquired a new position in shares of Boston Scientific in the 2nd quarter valued at about $30,000. RiverPark Advisors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Boston Scientific in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.67 during trading hours on Friday, reaching $78.25. The company had a trading volume of 4,404,671 shares, compared to its average volume of 6,225,274. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. The stock has a fifty day moving average of $76.41 and a 200-day moving average of $71.87. The company has a market capitalization of $114.80 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 2.49 and a beta of 0.78. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business 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 16.80% and a net margin of 12.00%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share. On average, equities analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now directly owns 45,628 shares in the company, valued at $3,437,157.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Arthur C. Butcher sold 14,011 shares of the stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $75.34, for a total value of $1,055,588.74. Following the completion of the transaction, the executive vice president now directly owns 20,197 shares in the company, valued at $1,521,641.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $75.33, for a total value of $526,029.39. Following the completion of the transaction, the executive vice president now owns 45,628 shares of the company’s stock, valued at $3,437,157.24. The disclosure for this sale can be found here. Insiders sold 34,960 shares of company stock worth $2,638,984 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Raymond James boosted their price objective on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a report on Thursday, July 25th. Robert W. Baird upped their price target on Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. StockNews.com raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Truist Financial upped their price target on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Evercore ISI upped their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. Two 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

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.