Qube Research & Technologies Ltd Grows Stock Position in Boston Scientific Co. (NYSE:BSX)

Qube Research & Technologies Ltd grew its position in Boston Scientific Co. (NYSE:BSXGet Rating) by 1,791.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 344,841 shares of the medical equipment provider’s stock after acquiring an additional 326,612 shares during the quarter. Qube Research & Technologies Ltd’s holdings in Boston Scientific were worth $15,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. UMB Bank N A MO purchased a new position in Boston Scientific during the fourth quarter worth approximately $25,000. Concorde Financial Corp purchased a new position in Boston Scientific during the fourth quarter worth approximately $34,000. Quent Capital LLC purchased a new position in Boston Scientific during the fourth quarter worth approximately $35,000. Nauset Wealth Management. LLC purchased a new position in Boston Scientific during the first quarter worth approximately $37,000. Finally, Samalin Investment Counsel LLC lifted its position in Boston Scientific by 88.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 1,025 shares of the medical equipment provider’s stock worth $44,000 after buying an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 90.48% of the company’s stock.

Insiders Place Their Bets

In other Boston Scientific news, EVP Eric Francis Yves Thepaut sold 20,676 shares of Boston Scientific stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $40.99, for a total transaction of $847,509.24. Following the completion of the sale, the executive vice president now directly owns 72,486 shares of the company’s stock, valued at approximately $2,971,201.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Eric Francis Yves Thepaut sold 20,676 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $40.99, for a total value of $847,509.24. Following the completion of the sale, the executive vice president now directly owns 72,486 shares of the company’s stock, valued at approximately $2,971,201.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Nelda J. Connors sold 16,088 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total value of $668,939.04. Following the completion of the sale, the director now directly owns 4,877 shares of the company’s stock, valued at $202,785.66. The disclosure for this sale can be found here. Insiders sold 59,264 shares of company stock valued at $2,382,173 in the last ninety days. Insiders own 0.71% of the company’s stock.

Boston Scientific Trading Down 0.7 %

BSX opened at $40.94 on Friday. Boston Scientific Co. has a 12 month low of $34.98 and a 12 month high of $47.49. The stock has a market capitalization of $58.53 billion, a price-to-earnings ratio of 70.59, a PEG ratio of 2.23 and a beta of 0.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 0.78. The business has a fifty day moving average price of $38.31 and a 200 day moving average price of $41.29.

Boston Scientific (NYSE:BSXGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.22 billion. Boston Scientific had a return on equity of 14.72% and a net margin of 7.16%. Boston Scientific’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. Sell-side analysts expect that Boston Scientific Co. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BSX has been the topic of a number of research analyst reports. Citigroup reduced their target price on Boston Scientific from $52.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, May 17th. Wolfe Research initiated coverage on Boston Scientific in a research report on Tuesday, July 5th. They issued an “outperform” rating and a $43.00 target price on the stock. Truist Financial reduced their target price on Boston Scientific from $51.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Canaccord Genuity Group lifted their target price on Boston Scientific from $43.00 to $45.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley reduced their target price on Boston Scientific from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $46.55.

About Boston Scientific

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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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