21,319 Shares in Boston Scientific Co. (NYSE:BSX) Purchased by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 21,319 shares of the medical equipment provider’s stock, valued at approximately $1,904,000.

A number of other hedge funds have also modified their holdings of BSX. Capital Investment Advisors LLC grew its holdings in shares of Boston Scientific by 12.2% during the fourth quarter. Capital Investment Advisors LLC now owns 2,899 shares of the medical equipment provider’s stock worth $259,000 after buying an additional 315 shares in the last quarter. Moody National Bank Trust Division bought a new position in Boston Scientific in the fourth quarter valued at approximately $249,000. Claro Advisors LLC bought a new position in Boston Scientific in the fourth quarter valued at approximately $244,000. Miracle Mile Advisors LLC grew its stake in Boston Scientific by 4.7% in the fourth quarter. Miracle Mile Advisors LLC now owns 5,498 shares of the medical equipment provider’s stock valued at $491,000 after purchasing an additional 246 shares in the last quarter. Finally, Accurate Wealth Management LLC bought a new position in Boston Scientific in the fourth quarter valued at approximately $228,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Robert W. Baird raised their price target on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Wells Fargo & Company raised their price target on Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. Barclays raised their price target on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Finally, Piper Sandler raised their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Twenty-three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and a consensus price target of $114.52.

Boston Scientific Stock Performance

NYSE:BSX opened at $104.63 on Friday. The stock has a market cap of $154.79 billion, a P/E ratio of 83.70, a PEG ratio of 2.79 and a beta of 0.68. The stock has a 50 day simple moving average of $98.98 and a 200 day simple moving average of $96.42. 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 Co. has a 1-year low of $71.88 and a 1-year high of $107.17.

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

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 67,333 shares of Boston Scientific stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 225,808 shares of the company’s stock, valued at $23,764,033.92. This represents a 22.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 265,820 shares of company stock valued at $27,406,958 in the last three months. Corporate insiders own 0.50% of the company’s stock.

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.