Point72 Asset Management L.P. Makes New Investment in Boston Scientific Co. (NYSE:BSX)

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.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $2.91 billion for the quarter, compared to analysts’ expectations of $2.92 billion. Boston Scientific had a return on equity of 21.15% and a net margin of 43.78%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Sell-side analysts forecast that Boston Scientific Co. will post 1.74 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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