Point72 Asset Management L.P. acquired a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, HoldingsChannel reports. The fund acquired 636,554 shares of the medical equipment provider’s stock, valued at approximately $28,785,000.
A number of other institutional investors have also bought and sold shares of BSX. Clear Harbor Asset Management LLC acquired a new position in Boston Scientific in the fourth quarter worth $25,000. TCI Wealth Advisors Inc. raised its position in shares of Boston Scientific by 90.5% during the fourth quarter. TCI Wealth Advisors Inc. now owns 581 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 276 shares during the last quarter. Princeton Global Asset Management LLC bought a new stake in shares of Boston Scientific during the fourth quarter worth $27,000. OLD Second National Bank of Aurora bought a new stake in Boston Scientific in the fourth quarter valued at about $33,000. Finally, Shine Investment Advisory Services Inc. bought a new stake in Boston Scientific in the fourth quarter valued at about $33,000. 91.79% of the stock is currently owned by institutional investors.
Shares of NYSE:BSX traded up $1.70 during trading on Wednesday, hitting $29.92. 19,681,675 shares of the company were exchanged, compared to its average volume of 11,092,059. The company has a market cap of $36.06 billion, a PE ratio of 8.99, a P/E/G ratio of 1.48 and a beta of 0.87. Boston Scientific Co. has a 52-week low of $24.10 and a 52-week high of $46.62. The stock has a 50 day moving average of $37.26 and a 200 day moving average of $41.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.97 and a quick ratio of 0.64.
In other Boston Scientific news, EVP David A. Pierce sold 2,152 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.50, for a total transaction of $97,916.00. Following the completion of the sale, the executive vice president now directly owns 36,127 shares in the company, valued at $1,643,778.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Desiree Ralls-Morrison sold 4,050 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $45.50, for a total transaction of $184,275.00. The disclosure for this sale can be found here. In the last three months, insiders sold 62,875 shares of company stock worth $2,709,790. 0.66% of the stock is owned by insiders.
Several equities research analysts have issued reports on BSX shares. Goldman Sachs Group started coverage on Boston Scientific in a report on Wednesday, February 12th. They issued a “neutral” rating and a $46.00 price target for the company. Stifel Nicolaus reduced their price objective on Boston Scientific from $47.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup initiated coverage on Boston Scientific in a research report on Wednesday, March 4th. They set a “buy” rating and a $48.00 price target for the company. Morgan Stanley increased their price target on Boston Scientific from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. raised their price objective on Boston Scientific from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $47.61.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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