Boston Scientific Co. (NYSE:BSX) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 29.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,460 shares of the medical equipment provider’s stock after acquiring an additional 2,854 shares during the quarter. GAMMA Investing LLC’s holdings in Boston Scientific were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Eagle Bay Advisors LLC grew its position in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. First Foundation Advisors acquired a new stake in Boston Scientific during the first quarter valued at approximately $25,000. RiverPark Advisors LLC acquired a new stake in shares of Boston Scientific during the first quarter valued at approximately $30,000. Northwest Investment Counselors LLC acquired a new position in Boston Scientific in the 1st quarter valued at approximately $31,000. Finally, Sachetta LLC acquired a new position in Boston Scientific in the 4th quarter valued at approximately $32,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the subject of several recent analyst reports. TD Cowen upped their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group began coverage on shares of Boston Scientific in a research note on Thursday, May 30th. They issued a “buy” rating and a $90.00 price target on the stock. Mizuho lifted their price objective on shares of Boston Scientific from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. Evercore ISI boosted their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Tuesday, July 2nd. Finally, Truist Financial boosted their target price on Boston Scientific from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

Insider Buying and Selling at Boston Scientific

In other news, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $72.70, for a total transaction of $286,874.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles J. Dockendorff sold 3,946 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. Insiders sold 51,837 shares of company stock valued at $3,884,563 over the last quarter. 0.50% of the stock is currently owned by insiders.

Boston Scientific Price Performance

BSX traded down $1.35 on Monday, hitting $73.15. 4,614,375 shares of the company’s stock traded hands, compared to its average volume of 6,320,997. The company’s 50 day simple moving average is $76.42 and its 200-day simple moving average is $70.98. The firm has a market cap of $107.32 billion, a price-to-earnings ratio of 60.86, a P/E/G ratio of 2.49 and a beta of 0.78. Boston Scientific Co. has a one year low of $48.35 and a one year high of $79.43. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS. As a group, research analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

Boston Scientific Company 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.