Boston Scientific Co. (NYSE:BSX) Shares Sold by Two Sigma Investments LP

Two Sigma Investments LP reduced its stake in Boston Scientific Co. (NYSE:BSX) by 35.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 741,847 shares of the medical equipment provider’s stock after selling 411,277 shares during the period. Two Sigma Investments LP owned approximately 0.05% of Boston Scientific worth $66,262,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. TFC Financial Management Inc. raised its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Colonial Trust Co SC raised its stake in shares of Boston Scientific by 1,625.0% during the fourth quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 260 shares during the period. Valley National Advisers Inc. lifted its position in shares of Boston Scientific by 262.4% during the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 286 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $36,000. Finally, Global Trust Asset Management LLC grew its holdings in Boston Scientific by 64.5% during the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock valued at $39,000 after purchasing an additional 171 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now owns 1,535,706 shares of the company’s stock, valued at approximately $157,379,150.88. This represents a 9.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 17,314 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the sale, the executive vice president now owns 22,235 shares in the company, valued at approximately $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,163 shares of company stock worth $27,129,540. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BSX. Argus set a $130.00 price objective on shares of Boston Scientific in a report on Tuesday, February 18th. Erste Group Bank raised Boston Scientific to a “strong-buy” rating in a research report on Thursday, May 8th. Wells Fargo & Company raised 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. UBS Group upped their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley increased their price objective on shares of Boston Scientific from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday. Twenty-three equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $114.74.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $106.61 on Tuesday. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.36. The firm has a market capitalization of $157.72 billion, a PE ratio of 85.29, a P/E/G ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business’s fifty day moving average price is $99.39 and its two-hundred day moving average price is $96.90.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data 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. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.56 EPS. On average, research analysts expect 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.