Boston Scientific Co. (NYSE:BSX) Shares Acquired by Castle Hook Partners LP

Castle Hook Partners LP raised its stake in Boston Scientific Co. (NYSE:BSX) by 146.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 762,073 shares of the medical equipment provider’s stock after purchasing an additional 453,374 shares during the period. Boston Scientific comprises 0.8% of Castle Hook Partners LP’s investment portfolio, making the stock its 24th biggest position. Castle Hook Partners LP owned approximately 0.05% of Boston Scientific worth $68,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock worth $11,869,805,000 after purchasing an additional 1,600,062 shares during the last quarter. Wellington Management Group LLP lifted its stake in Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Boston Scientific by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after purchasing an additional 1,041,329 shares in the last quarter. Capital World Investors increased its stake in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider’s stock valued at $2,492,041,000 after purchasing an additional 6,216,199 shares during the last quarter. Finally, Norges Bank acquired a new stake in Boston Scientific during the fourth quarter worth approximately $1,762,522,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.7 %

NYSE BSX opened at $104.23 on Tuesday. The company’s fifty day simple moving average is $98.64 and its 200-day simple moving average is $95.60. The stock has a market cap of $154.16 billion, a P/E ratio of 83.38, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The company’s revenue was up 20.9% compared to the same quarter last year. Equities research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Wells Fargo & Company increased their price objective on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. UBS Group lifted their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley increased their price target 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. Twenty-three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $114.52.

Insider Activity

In related news, EVP John Bradley Sorenson sold 6,528 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the completion of the sale, the executive vice president now owns 26,449 shares of the company’s stock, valued at $2,776,351.53. This represents a 19.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 302,453 shares of company stock worth $31,264,103. 0.50% of the stock is currently owned by corporate insiders.

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.