Picton Mahoney Asset Management Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Picton Mahoney Asset Management increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 20.1% in the 4th quarter, HoldingsChannel reports. The firm owned 298,042 shares of the medical equipment provider’s stock after purchasing an additional 49,856 shares during the period. Picton Mahoney Asset Management’s holdings in Boston Scientific were worth $17,230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. FMR LLC raised its holdings in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after acquiring an additional 8,045,263 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Boston Scientific by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 123,768,348 shares of the medical equipment provider’s stock valued at $6,534,969,000 after purchasing an additional 1,525,432 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Boston Scientific by 5.9% during the 3rd quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after purchasing an additional 2,336,348 shares during the last quarter. Morgan Stanley grew its stake in shares of Boston Scientific by 2.3% during the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock worth $1,119,378,000 after purchasing an additional 481,891 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in Boston Scientific by 1.4% in the third quarter. Invesco Ltd. now owns 14,862,018 shares of the medical equipment provider’s stock valued at $784,715,000 after buying an additional 211,732 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded up $0.88 during trading on Tuesday, reaching $73.43. The company had a trading volume of 4,151,495 shares, compared to its average volume of 6,613,376. Boston Scientific Co. has a fifty-two week low of $48.35 and a fifty-two week high of $74.39. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. The stock’s fifty day moving average price is $68.68 and its 200 day moving average price is $61.74. The firm has a market capitalization of $107.73 billion, a price-to-earnings ratio of 61.71, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP John Bradley Sorenson sold 16,351 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the transaction, the executive vice president now owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold a total of 78,384 shares of company stock worth $5,395,560 in the last three months. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on BSX shares. Raymond James lifted their price target on Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 25th. UBS Group upped their price target on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Needham & Company LLC boosted their price objective on shares of Boston Scientific from $71.00 to $82.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Finally, TD Cowen increased their target price on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.09.

About Boston Scientific

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.