Delta Global Management LP Makes New $1.76 Million Investment in Boston Scientific Corporation $BSX

Delta Global Management LP purchased a new position in Boston Scientific Corporation (NYSE:BSX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 28,012 shares of the medical equipment provider’s stock, valued at approximately $1,758,000.

A number of other institutional investors have also modified their holdings of the business. FWL Investment Management LLC acquired a new stake in Boston Scientific during the second quarter worth about $26,000. Swiss RE Ltd. acquired a new position in Boston Scientific in the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Bangor Savings Bank grew its holdings in shares of Boston Scientific by 94.7% during the fourth quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 142 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd acquired a new stake in shares of Boston Scientific during the 1st quarter worth approximately $28,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, Director David C. Habiger purchased 2,250 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were bought at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the transaction, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. This represents a 19.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Cheryl Pegus purchased 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the purchase, the director owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 9,800 shares of company stock valued at $554,012. Company insiders own 0.34% of the company’s stock.

Boston Scientific Trading Up 0.0%

NYSE:BSX opened at $44.26 on Monday. The stock has a market cap of $65.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. Boston Scientific Corporation has a 1 year low of $42.20 and a 1 year high of $109.50. The business has a fifty day moving average of $47.21 and a 200-day moving average of $63.84.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BSX. Piper Sandler restated an “overweight” rating and set a $65.00 price objective on shares of Boston Scientific in a research report on Friday, June 12th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $55.00 target price (down from $75.00) on shares of Boston Scientific in a research note on Thursday, May 28th. Citigroup lowered their price target on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 28th. Bank of America dropped their price objective on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Finally, Weiss Ratings lowered shares of Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and an average price target of $79.84.

About Boston Scientific

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.