Clough Capital Partners L P Sells 124,090 Shares of Boston Scientific Corporation $BSX

Clough Capital Partners L P lowered its holdings in Boston Scientific Corporation (NYSE:BSX) by 89.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,350 shares of the medical equipment provider’s stock after selling 124,090 shares during the quarter. Clough Capital Partners L P’s holdings in Boston Scientific were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FWL Investment Management LLC bought a new stake in Boston Scientific in the 2nd quarter worth about $26,000. Swiss RE Ltd. purchased a new position in Boston Scientific in the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC bought a new position in Boston Scientific during the 4th quarter valued at about $26,000. Bangor Savings Bank lifted its stake in Boston Scientific by 94.7% during the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 142 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Boston Scientific during the 1st quarter valued at about $28,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

NYSE BSX opened at $44.26 on Monday. The business’s fifty day moving average is $47.21 and its 200 day moving average is $63.84. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The company has a market capitalization of $65.78 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58.

Boston Scientific announced that its Board of Directors has approved a stock buyback plan on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Boston Scientific

In related news, Director Cheryl Pegus acquired 1,770 shares of the stock in a transaction dated Wednesday, May 20th. The shares were purchased at an average cost of $56.49 per share, with a total value of $99,987.30. Following the transaction, the director directly owned 1,770 shares in the company, valued at approximately $99,987.30. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David C. Habiger acquired 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the purchase, the director owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 9,800 shares of company stock valued at $554,012 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BSX has been the subject of a number of research analyst reports. Royal Bank Of Canada reduced their price target on shares of Boston Scientific from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Canaccord Genuity Group lowered their price objective on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. Evercore set a $65.00 target price on shares of Boston Scientific in a report on Monday, July 6th. Oppenheimer set a $90.00 target price on shares of Boston Scientific in a research report on Thursday, April 23rd. Finally, Citigroup decreased their target price on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average price target of $79.84.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.