Exome Asset Management LLC Purchases New Shares in Boston Scientific Corporation $BSX

Exome Asset Management LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 48,347 shares of the medical equipment provider’s stock, valued at approximately $3,034,000. Boston Scientific comprises approximately 1.6% of Exome Asset Management LLC’s investment portfolio, making the stock its 21st biggest holding.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in Boston Scientific by 155.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 2,629,613 shares of the medical equipment provider’s stock worth $165,008,000 after buying an additional 1,601,237 shares in the last quarter. Glen Eagle Advisors LLC increased its position in Boston Scientific by 63.3% in the 1st quarter. Glen Eagle Advisors LLC now owns 21,617 shares of the medical equipment provider’s stock valued at $1,356,000 after acquiring an additional 8,380 shares in the last quarter. Lazard Asset Management LLC increased its position in Boston Scientific by 24.8% in the 1st quarter. Lazard Asset Management LLC now owns 4,880,504 shares of the medical equipment provider’s stock valued at $306,252,000 after acquiring an additional 970,473 shares in the last quarter. Gateway Wealth Partners LLC bought a new position in shares of Boston Scientific in the first quarter worth about $228,000. Finally, Weiss Asset Management LP acquired a new position in shares of Boston Scientific during the first quarter worth approximately $821,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 3.0%

NYSE:BSX opened at $45.56 on Tuesday. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $67.72 billion, a P/E ratio of 19.06, a P/E/G ratio of 0.85 and a beta of 0.58. The stock’s fifty day simple moving average is $47.00 and its 200-day simple moving average is $63.47.

Boston Scientific declared that its Board of Directors has initiated a stock repurchase plan on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, Director Cheryl Pegus purchased 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. The trade was a ? increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director David C. Habiger acquired 2,250 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the purchase, the director directly owned 13,878 shares in the company, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 9,800 shares of company stock valued at $554,012 in the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on BSX. Robert W. Baird set a $70.00 price target on shares of Boston Scientific in a research note on Thursday, May 28th. Mizuho dropped their target price on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday. Evercore set a $65.00 price objective on Boston Scientific in a report on Monday, July 6th. Finally, BTIG Research restated a “buy” rating and set a $65.00 target price on shares of Boston Scientific in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.64.

Boston Scientific 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.