Boston Scientific Co. (NYSE:BSX) Shares Purchased by Man Group plc

Man Group plc boosted its position in Boston Scientific Co. (NYSE:BSX) by 30.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,059 shares of the medical equipment provider’s stock after purchasing an additional 62,662 shares during the period. Man Group plc’s holdings in Boston Scientific were worth $24,211,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Mechanics Bank Trust Department purchased a new position in shares of Boston Scientific during the 4th quarter worth approximately $415,000. Highland Capital Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $4,887,000. Covenant Asset Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $3,405,000. Beacon Investment Advisory Services Inc. lifted its holdings in shares of Boston Scientific by 31.7% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider’s stock valued at $1,744,000 after acquiring an additional 4,702 shares in the last quarter. Finally, Oak Harvest Investment Services boosted its position in Boston Scientific by 262.5% during the 4th quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider’s stock worth $3,642,000 after purchasing an additional 29,526 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total transaction of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at approximately $157,379,150.88. The trade was a 9.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,820 shares of company stock worth $27,406,958. 0.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BSX. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Needham & Company LLC increased their price target on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Raymond James increased their price objective on shares of Boston Scientific from $119.00 to $122.00 and gave the stock a “strong-buy” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Finally, BTIG Research restated a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research note on Wednesday, April 23rd. Twenty-three research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $114.52.

Boston Scientific Trading Up 1.6%

Boston Scientific stock opened at $104.63 on Friday. The company has a 50 day moving average price of $98.98 and a 200 day moving average price of $96.42. Boston Scientific Co. has a 52 week low of $71.88 and a 52 week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a market capitalization of $154.79 billion, a price-to-earnings ratio of 83.70, a P/E/G ratio of 2.79 and a beta of 0.68.

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

Boston Scientific 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.