Massachusetts Financial Services Co. MA Has $1.76 Billion Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Massachusetts Financial Services Co. MA reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 23.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 19,659,955 shares of the medical equipment provider’s stock after selling 6,007,738 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.33% of Boston Scientific worth $1,756,027,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Parnassus Investments LLC raised its stake in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after acquiring an additional 97 shares during the period. PDS Planning Inc increased its stake in shares of Boston Scientific by 1.5% in the fourth quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 113 shares in the last quarter. Adero Partners LLC lifted its stake in shares of Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock valued at $334,000 after buying an additional 120 shares in the last quarter. Grove Bank & Trust grew its stake in Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after buying an additional 122 shares in the last quarter. Finally, PFG Investments LLC raised its holdings in Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 125 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $101.20 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $149.68 billion, a PE ratio of 80.96, a PEG ratio of 2.79 and a beta of 0.77. The company’s fifty day moving average is $102.21 and its 200 day moving average is $93.43. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17.

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, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Research analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the completion of the transaction, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. This represents a 22.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,302 shares of company stock valued at $14,319,269. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent research reports. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Raymond James upped their price target on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. TD Cowen upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Piper Sandler raised their price target on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

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.