Voleon Capital Management LP Purchases Shares of 55,992 Boston Scientific Co. (NYSE:BSX)

Voleon Capital Management LP purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 55,992 shares of the medical equipment provider’s stock, valued at approximately $5,001,000.

Other hedge funds have also recently modified their holdings of the company. Parnassus Investments LLC increased its holdings in Boston Scientific by 0.7% in the 4th quarter. Parnassus Investments LLC now owns 14,861 shares of the medical equipment provider’s stock worth $1,327,000 after acquiring an additional 97 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Boston Scientific by 1.7% during the 4th quarter. Evergreen Capital Management LLC now owns 6,331 shares of the medical equipment provider’s stock worth $565,000 after purchasing an additional 106 shares during the last quarter. PDS Planning Inc boosted its stake in Boston Scientific by 1.5% during the 4th quarter. PDS Planning Inc now owns 7,474 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 113 shares during the last quarter. Adero Partners LLC boosted its stake in Boston Scientific by 3.3% during the 4th quarter. Adero Partners LLC now owns 3,737 shares of the medical equipment provider’s stock worth $334,000 after purchasing an additional 120 shares during the last quarter. Finally, Tradition Wealth Management LLC boosted its stake in Boston Scientific by 2.2% during the 4th quarter. Tradition Wealth Management LLC now owns 5,510 shares of the medical equipment provider’s stock worth $492,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BSX shares. Royal Bank of Canada lifted their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Barclays boosted their price target on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. 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 research report on Thursday, February 6th. Finally, Stifel Nicolaus boosted their price target on shares of Boston Scientific from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $114.52.

Insider Buying and Selling at Boston Scientific

In other news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at approximately $3,441,592.37. The trade was a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $101.80, for a total transaction of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 138,009 shares of company stock valued at $14,407,381 in the last 90 days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $102.69 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52 week low of $70.97 and a 52 week high of $107.17. The stock has a market capitalization of $151.89 billion, a PE ratio of 82.15, a P/E/G ratio of 2.79 and a beta of 0.73. The firm has a 50 day moving average of $98.56 and a two-hundred day moving average of $95.08.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating 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 company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter last year, the company posted $0.56 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal 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.