Point72 Hong Kong Ltd Takes $1.90 Million Position in Boston Scientific Co. (NYSE:BSX)

Point72 Hong Kong Ltd purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 21,319 shares of the medical equipment provider’s stock, valued at approximately $1,904,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Polar Asset Management Partners Inc. increased its stake in shares of Boston Scientific by 69.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 481,717 shares of the medical equipment provider’s stock valued at $43,027,000 after purchasing an additional 196,617 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Boston Scientific by 12.0% in the 4th quarter. ProShare Advisors LLC now owns 224,880 shares of the medical equipment provider’s stock valued at $20,086,000 after purchasing an additional 24,022 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Boston Scientific by 47.3% in the 4th quarter. Quantinno Capital Management LP now owns 134,139 shares of the medical equipment provider’s stock valued at $11,981,000 after purchasing an additional 43,050 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Boston Scientific by 1.3% in the 4th quarter. Pathstone Holdings LLC now owns 126,091 shares of the medical equipment provider’s stock valued at $11,263,000 after purchasing an additional 1,659 shares during the last quarter. Finally, Mufg Securities Americas Inc. bought a new position in shares of Boston Scientific in the 4th quarter valued at $1,943,000. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BSX shares. Morgan Stanley lifted their price target on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Raymond James boosted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research report on Thursday, February 6th. Evercore ISI boosted their price objective on Boston Scientific from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Royal Bank of Canada boosted their price objective on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Robert W. Baird boosted their price objective on Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Twenty-three research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $114.52.

Boston Scientific Stock Up 1.6%

Shares of NYSE:BSX opened at $104.63 on Friday. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. 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 business’s 50-day moving average is $98.98 and its 200-day moving average is $96.42. The company has a market capitalization of $154.79 billion, a price-to-earnings ratio of 83.70, a P/E/G ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating 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 company had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company earned $0.56 EPS. The firm’s revenue for the quarter was up 20.9% compared to the same quarter last year. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. This represents a 22.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 2,657 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total value of $277,417.37. Following the completion of the transaction, the executive vice president now owns 24,294 shares in the company, valued at approximately $2,536,536.54. The trade was a 9.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 265,820 shares of company stock worth $27,406,958 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific 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.