Tidal Investments LLC Grows Position in Boston Scientific Co. (NYSE:BSX)

Tidal Investments LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 38.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,876 shares of the medical equipment provider’s stock after buying an additional 33,369 shares during the period. Tidal Investments LLC’s holdings in Boston Scientific were worth $10,707,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BSX. TFC Financial Management Inc. increased its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Colonial Trust Co SC increased its stake in Boston Scientific by 1,625.0% in the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the last quarter. Valley National Advisers Inc. increased its stake in Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the last quarter. Fairway Wealth LLC purchased a new position in Boston Scientific in the fourth quarter valued at approximately $36,000. Finally, Global Trust Asset Management LLC increased its stake in Boston Scientific by 64.5% in the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 171 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,314 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares of the company’s stock, valued at approximately $2,269,304.10. This trade represents a 43.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John Bradley Sorenson sold 2,657 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $104.41, for a total value of $277,417.37. Following the completion of the sale, the executive vice president now directly owns 24,294 shares of the company’s stock, valued at approximately $2,536,536.54. This trade represents a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 265,820 shares of company stock valued at $27,406,958 over the last three months. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on BSX. Citigroup increased their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price target on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. 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. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Finally, Barclays increased their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Twenty-three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $114.74.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $106.00 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The stock has a fifty day moving average price of $99.18 and a 200 day moving average price of $96.74. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The company has a market cap of $156.83 billion, a PE ratio of 84.80, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last issued 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. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the company earned $0.56 earnings per share. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current 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.