Sciencast Management LP Invests $411,000 in Boston Scientific Co. (NYSE:BSX)

Sciencast Management LP purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,800 shares of the medical equipment provider’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BSX. NewSquare Capital LLC acquired a new stake in Boston Scientific during the 1st quarter worth $25,000. Global Retirement Partners LLC grew its stake in Boston Scientific by 75.0% during the 2nd quarter. Global Retirement Partners LLC now owns 714 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 306 shares in the last quarter. Baystate Wealth Management LLC raised its holdings in Boston Scientific by 7,050.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 715 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 705 shares during the last quarter. Key Financial Inc acquired a new stake in Boston Scientific in the 1st quarter valued at about $28,000. Finally, Ellevest Inc. lifted its stake in Boston Scientific by 129.8% in the 1st quarter. Ellevest Inc. now owns 1,018 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 575 shares in the last quarter. 89.97% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts recently commented on the company. Jefferies Financial Group increased their price target on Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer raised their target price on Boston Scientific from $41.00 to $43.00 and gave the stock a “market perform” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of Boston Scientific in a research report on Wednesday. BTIG Research restated a “buy” rating and set a $44.00 price objective on shares of Boston Scientific in a research report on Wednesday, April 29th. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $44.71.

BSX opened at $38.57 on Friday. The stock’s 50-day moving average price is $36.11 and its 200 day moving average price is $37.19. Boston Scientific Co. has a 12-month low of $24.10 and a 12-month high of $46.62. The company has a current ratio of 1.21, a quick ratio of 0.80 and a debt-to-equity ratio of 0.68. The firm has a market cap of $53.97 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 3.94 and a beta of 0.92.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $0.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.12. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.68 billion. Boston Scientific had a net margin of 39.18% and a return on equity of 13.68%. The business’s revenue for the quarter was down 23.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, research analysts forecast that Boston Scientific Co. will post 0.93 earnings per share for the current year.

In related news, EVP David A. Pierce sold 2,170 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $38.00, for a total transaction of $82,460.00. Following the sale, the executive vice president now directly owns 9,401 shares of the company’s stock, valued at approximately $357,238. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.70% of the company’s stock.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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