636,554 Shares in Boston Scientific Co. (NYSE:BSX) Acquired by Point72 Asset Management L.P.
Point72 Asset Management L.P. acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 636,554 shares of the medical equipment provider’s stock, valued at approximately $28,785,000.
Several other large investors also recently modified their holdings of BSX. Clear Harbor Asset Management LLC purchased a new stake in shares of Boston Scientific during the 4th quarter worth approximately $25,000. TCI Wealth Advisors Inc. increased its holdings in shares of Boston Scientific by 90.5% in the 4th quarter. TCI Wealth Advisors Inc. now owns 581 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 276 shares during the period. Princeton Global Asset Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $27,000. OLD Second National Bank of Aurora acquired a new position in shares of Boston Scientific in the 4th quarter valued at $33,000. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Boston Scientific in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 91.79% of the company’s stock.
NYSE:BSX traded up $1.70 during trading hours on Wednesday, hitting $29.92. The stock had a trading volume of 19,681,675 shares, compared to its average volume of 11,092,059. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.62. Boston Scientific Co. has a 1-year low of $24.10 and a 1-year high of $46.62. The business has a 50 day simple moving average of $37.26 and a two-hundred day simple moving average of $41.19. The company has a market cap of $36.06 billion, a PE ratio of 8.99, a price-to-earnings-growth ratio of 1.48 and a beta of 0.87.
A number of equities analysts have recently commented on BSX shares. Wells Fargo & Co lifted their target price on shares of Boston Scientific from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Credit Suisse Group lowered their price target on shares of Boston Scientific from $51.00 to $46.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Stifel Nicolaus lowered their price target on shares of Boston Scientific from $47.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday. Goldman Sachs Group started coverage on shares of Boston Scientific in a research note on Wednesday, February 12th. They set a “neutral” rating and a $46.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $47.61.
In other Boston Scientific news, EVP David A. Pierce sold 2,152 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $45.50, for a total value of $97,916.00. Following 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 Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Brennan sold 20,463 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $42.03, for a total value of $860,059.89. Following the completion of the sale, the chief financial officer now owns 250,710 shares in the company, valued at $10,537,341.30. The disclosure for this sale can be found here. Insiders have sold 62,875 shares of company stock worth $2,709,790 over the last 90 days. 0.66% of the stock is currently owned by company insiders.
Boston Scientific Company Profile
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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