Boston Scientific Corporation $BSX Shares Acquired by Entropy Technologies LP

Entropy Technologies LP boosted its stake in Boston Scientific Corporation (NYSE:BSX) by 82.5% in the first quarter, HoldingsChannel reports. The firm owned 282,967 shares of the medical equipment provider’s stock after acquiring an additional 127,941 shares during the period. Boston Scientific accounts for about 0.8% of Entropy Technologies LP’s holdings, making the stock its 2nd biggest position. Entropy Technologies LP’s holdings in Boston Scientific were worth $17,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 139,685,997 shares of the medical equipment provider’s stock valued at $13,319,060,000 after acquiring an additional 1,436,550 shares during the last quarter. State Street Corp boosted its stake in Boston Scientific by 1.4% during the 4th quarter. State Street Corp now owns 65,846,059 shares of the medical equipment provider’s stock worth $6,278,422,000 after acquiring an additional 920,495 shares during the last quarter. Capital World Investors grew its holdings in Boston Scientific by 1.9% during the fourth quarter. Capital World Investors now owns 27,151,575 shares of the medical equipment provider’s stock valued at $2,588,953,000 after purchasing an additional 502,627 shares during the period. Norges Bank bought a new stake in Boston Scientific in the fourth quarter valued at approximately $2,199,395,000. Finally, Morgan Stanley increased its stake in Boston Scientific by 10.8% in the fourth quarter. Morgan Stanley now owns 22,960,556 shares of the medical equipment provider’s stock valued at $2,189,289,000 after purchasing an additional 2,246,308 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 1.6%

BSX opened at $44.26 on Friday. The stock has a market capitalization of $65.78 billion, a P/E ratio of 18.52, a P/E/G ratio of 0.84 and a beta of 0.58. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The firm’s fifty day simple moving average is $47.21 and its 200 day simple moving average is $64.06.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts anticipate that Boston Scientific Corporation will post 3.35 EPS for the current fiscal year.

Boston Scientific announced that its Board of Directors has approved a share buyback program on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on BSX shares. Barclays reduced their price target on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating on the stock in a research report on Thursday, May 28th. Evercore set a $65.00 price objective on Boston Scientific in a research note on Monday, July 6th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial decreased their target price on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, Citigroup lowered their price target on Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

Insider Transactions at Boston Scientific

In other news, Director David C. Habiger acquired 2,250 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $55.92 per share, with a total value of $125,820.00. Following the completion of the transaction, the director directly owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This represents a 19.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl Pegus acquired 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $56.49 per share, with a total value of $99,987.30. Following the completion of the acquisition, the director owned 1,770 shares of the company’s stock, valued at $99,987.30. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 9,800 shares of company stock valued at $554,012 over the last three months. Company insiders own 0.34% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.