Congress Asset Management Co. Has $153.83 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

Congress Asset Management Co. increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,722,192 shares of the medical equipment provider’s stock after purchasing an additional 3,538 shares during the quarter. Boston Scientific makes up approximately 1.0% of Congress Asset Management Co.’s holdings, making the stock its 18th biggest holding. Congress Asset Management Co. owned approximately 0.12% of Boston Scientific worth $153,826,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BSX. State Street Corp increased its position in Boston Scientific by 2.3% in the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares in the last quarter. Wellington Management Group LLP increased its position in Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after acquiring an additional 718,515 shares in the last quarter. Geode Capital Management LLC increased its position in Boston Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after acquiring an additional 480,729 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Boston Scientific by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after acquiring an additional 64,720 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after acquiring an additional 815,403 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BSX. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Thursday, February 6th. Raymond James lifted their price target on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley lifted their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $107.39.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. The trade was a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,326 shares of company stock valued at $8,673,948. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

NYSE:BSX opened at $106.20 on Friday. Boston Scientific Co. has a one year low of $65.33 and a one year high of $107.17. The company has a market cap of $156.51 billion, a P/E ratio of 84.96, a P/E/G ratio of 2.79 and a beta of 0.80. The firm’s fifty day moving average price is $96.44 and its two-hundred day moving average price is $88.19. 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 (NYSE:BSX) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 18.11%. Equities analysts expect that Boston Scientific Co. will post 2.83 earnings per share for the current 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.