Tema Etfs LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Tema Etfs LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 20,494 shares of the medical equipment provider’s stock, valued at approximately $1,831,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Toronto Dominion Bank boosted its stake in Boston Scientific by 8.2% in the 4th quarter. Toronto Dominion Bank now owns 803,749 shares of the medical equipment provider’s stock worth $71,790,000 after purchasing an additional 60,822 shares during the period. Steadfast Capital Management LP boosted its position in shares of Boston Scientific by 23.3% during the 4th quarter. Steadfast Capital Management LP now owns 2,378,064 shares of the medical equipment provider’s stock valued at $212,409,000 after acquiring an additional 448,879 shares during the last quarter. Suvretta Capital Management LLC boosted its position in shares of Boston Scientific by 58.0% during the 4th quarter. Suvretta Capital Management LLC now owns 397,679 shares of the medical equipment provider’s stock valued at $35,521,000 after acquiring an additional 145,990 shares during the last quarter. Shell Asset Management Co. boosted its position in shares of Boston Scientific by 32.2% during the 4th quarter. Shell Asset Management Co. now owns 23,120 shares of the medical equipment provider’s stock valued at $2,065,000 after acquiring an additional 5,626 shares during the last quarter. Finally, Sherbrooke Park Advisers LLC boosted its position in shares of Boston Scientific by 161.9% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 8,711 shares of the medical equipment provider’s stock valued at $778,000 after acquiring an additional 5,385 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on BSX. Raymond James increased their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Stifel Nicolaus increased their target price on Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Robert W. Baird increased their target price on Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $114.74.

Boston Scientific Stock Performance

BSX stock opened at $106.00 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business’s fifty day simple moving average is $99.18 and its two-hundred day simple moving average is $96.66. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The firm has a market cap of $156.83 billion, a price-to-earnings ratio of 84.80, a PEG 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 for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The business’s revenue was up 20.9% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other news, EVP John Bradley Sorenson sold 2,657 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $104.41, for a total transaction of $277,417.37. Following the transaction, the executive vice president now owns 24,294 shares in the company, valued at approximately $2,536,536.54. This trade represents a 9.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Daniel J. Brennan sold 67,333 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total value of $7,086,124.92. Following the transaction, the chief financial officer now owns 225,808 shares in the company, valued at approximately $23,764,033.92. This represents a 22.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 265,820 shares of company stock worth $27,406,958. Company insiders own 0.50% of the company’s stock.

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.