Aristotle Atlantic Partners LLC Purchases 12,480 Shares of Boston Scientific Corporation $BSX

Aristotle Atlantic Partners LLC boosted its position in shares of Boston Scientific Corporation (NYSE:BSX) by 5.9% during the 1st quarter, HoldingsChannel reports. The firm owned 223,520 shares of the medical equipment provider’s stock after buying an additional 12,480 shares during the period. Aristotle Atlantic Partners LLC’s holdings in Boston Scientific were worth $14,026,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. FWL Investment Management LLC bought a new stake in shares of Boston Scientific in the 2nd quarter valued at about $26,000. Swiss RE Ltd. bought a new stake in Boston Scientific during the 4th quarter valued at $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Boston Scientific during the 4th quarter valued at $26,000. Bangor Savings Bank increased its holdings in shares of Boston Scientific by 94.7% in 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 position in shares of Boston Scientific in the 1st quarter valued at $28,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Trading Up 1.6%

Shares of Boston Scientific stock opened at $44.26 on Friday. The firm’s 50 day simple moving average is $47.21 and its two-hundred day simple moving average is $64.06. The firm has a market capitalization of $65.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.85 and a beta of 0.58. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.01. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 EPS. Analysts predict that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird set a $70.00 target price on Boston Scientific in a research note on Thursday, May 28th. Leerink Partners decreased their price target on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a research report on Thursday, May 28th. Stifel Nicolaus lowered their price target on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a research report on Thursday, May 28th. Finally, Truist Financial reduced their price objective on shares of Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

Insider Transactions at Boston Scientific

In other news, Director Edward J. Ludwig acquired 3,580 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the purchase, the director directly owned 25,359 shares in the company, valued at $1,437,348.12. This trade represents a 16.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David C. Habiger acquired 2,250 shares of the firm’s stock in a transaction on Wednesday, May 20th. The shares were acquired 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 approximately $776,057.76. This trade represents a 19.35% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 9,800 shares of company stock worth $554,012 over the last three months. 0.34% of the stock is currently owned by insiders.

Boston Scientific 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.