Boston Scientific Co. (NYSE:BSX) Stock Position Lifted by Castle Hook Partners LP

Castle Hook Partners LP increased its stake in Boston Scientific Co. (NYSE:BSX) by 146.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 762,073 shares of the medical equipment provider’s stock after buying an additional 453,374 shares during the quarter. Boston Scientific comprises about 0.8% of Castle Hook Partners LP’s holdings, making the stock its 24th biggest position. Castle Hook Partners LP’s holdings in Boston Scientific were worth $68,068,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of BSX. Mechanics Bank Trust Department bought a new stake in Boston Scientific during the fourth quarter worth approximately $415,000. Highland Capital Management LLC acquired a new position in Boston Scientific during the fourth quarter worth about $4,887,000. Covenant Asset Management LLC acquired a new stake in Boston Scientific in the 4th quarter valued at about $3,405,000. Brookstone Capital Management raised its holdings in shares of Boston Scientific by 23.7% in the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock worth $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Finally, Beacon Investment Advisory Services Inc. boosted its holdings in Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock worth $1,744,000 after buying an additional 4,702 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

BSX opened at $104.23 on Tuesday. The stock has a market cap of $154.16 billion, a PE ratio of 83.38, a P/E/G ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The stock’s 50 day simple moving average is $98.64 and its 200-day simple moving average is $95.60. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that Boston Scientific Co. will post 2.85 EPS for the current year.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent research reports. BTIG Research restated a “buy” rating and issued a $124.00 target price on shares of Boston Scientific in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research note on Friday, January 10th. Morgan Stanley boosted their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Needham & Company LLC boosted their target price on shares of Boston Scientific from $113.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company increased their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $114.52.

Insiders Place Their Bets

In other news, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the transaction, the executive vice president now directly owns 25,443 shares in the company, valued at $2,704,845.33. This trade represents a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Edward J. Ludwig sold 12,000 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $105.48, for a total value of $1,265,760.00. Following the completion of the sale, the director now owns 24,398 shares of the company’s stock, valued at $2,573,501.04. This represents a 32.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,453 shares of company stock valued at $31,264,103 in the last 90 days. 0.50% of the stock is currently owned by insiders.

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.