Boston Scientific Co. (NYSE:BSX) Shares Acquired by Suvretta Capital Management LLC

Suvretta Capital Management LLC boosted its position in shares of Boston Scientific Co. (NYSE:BSX) by 58.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,679 shares of the medical equipment provider’s stock after purchasing an additional 145,990 shares during the period. Boston Scientific makes up 1.2% of Suvretta Capital Management LLC’s portfolio, making the stock its 29th biggest position. Suvretta Capital Management LLC’s holdings in Boston Scientific were worth $35,521,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Parnassus Investments LLC grew its holdings in Boston Scientific by 0.7% during the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock valued at $1,327,000 after purchasing an additional 97 shares in the last quarter. Baldwin Investment Management LLC grew its holdings in Boston Scientific by 1.2% during the 4th quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock valued at $781,000 after purchasing an additional 102 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock valued at $565,000 after acquiring an additional 106 shares during the last quarter. PDS Planning Inc boosted its stake in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock valued at $668,000 after acquiring an additional 113 shares during the last quarter. Finally, Adero Partners LLC boosted its stake in 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 acquiring an additional 120 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 265,820 shares of company stock valued at $27,406,958 in the last quarter. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank of Canada increased 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. BTIG Research reiterated a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a research note on Wednesday, April 23rd. Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company raised their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $114.74.

Boston Scientific Stock Up 1.1%

Boston Scientific stock opened at $106.00 on Friday. The stock has a market cap of $156.83 billion, a price-to-earnings ratio of 84.80, a PEG ratio of 2.79 and a beta of 0.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $99.18 and its two-hundred day moving average price is $96.57. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17.

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

Boston Scientific Company 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.