7,462 Shares in Boston Scientific Co. (NYSE:BSX) Acquired by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,462 shares of the medical equipment provider’s stock, valued at approximately $472,000.

Several other hedge funds have also modified their holdings of 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 buying an additional 8,045,263 shares during the period. American Century Companies Inc. raised its holdings in Boston Scientific by 391.6% in the third quarter. American Century Companies Inc. now owns 3,271,810 shares of the medical equipment provider’s stock valued at $172,752,000 after buying an additional 2,606,253 shares during the period. Wellington Management Group LLP raised its stake in shares of Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock valued at $2,221,641,000 after purchasing an additional 2,336,348 shares during the period. Winslow Capital Management LLC raised its stake in shares of Boston Scientific by 39.3% during the third quarter. Winslow Capital Management LLC now owns 6,129,573 shares of the medical equipment provider’s stock valued at $323,641,000 after purchasing an additional 1,730,133 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Boston Scientific by 1.2% during the third 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 during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX traded up $4.30 during midday trading on Wednesday, hitting $73.29. 8,012,703 shares of the stock traded hands, compared to its average volume of 6,443,457. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $74.39. The firm has a market capitalization of $107.52 billion, a PE ratio of 68.38, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 1.32. The business’s 50 day moving average price is $67.39 and its two-hundred day moving average price is $60.19.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.59 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. Equities research analysts predict that Boston Scientific Co. will post 2.25 EPS for the current fiscal year.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares in the company, valued at $3,779,820.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 50,638 shares in the company, valued at $3,509,213.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock worth $3,418,529 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BSX. BTIG Research reiterated a “buy” rating and set a $64.00 price objective on shares of Boston Scientific in a research note on Friday, December 29th. TD Cowen lifted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, March 7th. Needham & Company LLC lifted their price objective on shares of Boston Scientific from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Wells Fargo & Company lifted their price objective on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Finally, StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Two 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

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.