Unisphere Establishment lifted its position in Boston Scientific Corporation (NYSE:BSX – Free Report) by 28.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,802,700 shares of the medical equipment provider’s stock after acquiring an additional 626,000 shares during the period. Boston Scientific comprises approximately 1.5% of Unisphere Establishment’s holdings, making the stock its 18th largest position. Unisphere Establishment’s holdings in Boston Scientific were worth $175,869,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in BSX. FWL Investment Management LLC acquired a new stake in shares of Boston Scientific in the second quarter worth $26,000. Swiss RE Ltd. acquired a new stake in Boston Scientific during the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in Boston Scientific during the 4th quarter valued at about $26,000. Bangor Savings Bank increased its holdings in shares of Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the period. Finally, Sfam LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.
Boston Scientific Stock Up 1.6%
Shares of Boston Scientific stock opened at $44.26 on Friday. The firm has a market cap of $65.78 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 0.84 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The stock has a 50-day simple moving average of $47.21 and a 200-day simple moving average of $64.06.
Boston Scientific declared that its Board of Directors has approved a share buyback plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
Several analysts recently commented on the stock. Royal Bank Of Canada decreased their price target on shares of Boston Scientific from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Piper Sandler reiterated an “overweight” rating and issued a $65.00 price objective on shares of Boston Scientific in a research note on Friday, June 12th. Barclays cut their target price on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. Bank of America decreased their target price on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, May 18th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $55.00 price target (down from $75.00) on shares of Boston Scientific in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $79.84.
View Our Latest Stock Report on BSX
Insider Activity
In other Boston Scientific news, Director Cheryl Pegus acquired 1,770 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David C. Habiger acquired 2,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. This represents a 19.35% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 9,800 shares of company stock worth $554,012. 0.34% of the stock is owned by corporate insiders.
Boston Scientific Company Profile
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.
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