Boston Scientific Corporation $BSX Shares Sold by Baader Bank Aktiengesellschaft

Baader Bank Aktiengesellschaft lowered its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 50.5% in the first quarter, Holdings Channel reports. The firm owned 11,770 shares of the medical equipment provider’s stock after selling 12,014 shares during the quarter. Baader Bank Aktiengesellschaft’s holdings in Boston Scientific were worth $728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Boston Scientific in the fourth quarter valued at about $2,199,395,000. Assenagon Asset Management S.A. grew its holdings in shares of Boston Scientific by 133.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,057,936 shares of the medical equipment provider’s stock worth $631,135,000 after buying an additional 5,751,760 shares during the last quarter. Maverick Capital Ltd. acquired a new position in Boston Scientific in the 4th quarter valued at about $280,735,000. Farallon Capital Management LLC raised its stake in Boston Scientific by 56.7% during the 4th quarter. Farallon Capital Management LLC now owns 7,439,564 shares of the medical equipment provider’s stock valued at $709,362,000 after acquiring an additional 2,693,007 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Boston Scientific by 31.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,035,628 shares of the medical equipment provider’s stock valued at $1,052,247,000 after acquiring an additional 2,668,230 shares during the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In related news, Director Cheryl Pegus acquired 1,770 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average price of $56.49 per share, with a total value of $99,987.30. Following the completion of the acquisition, the director owned 1,770 shares in the company, valued at approximately $99,987.30. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward J. Ludwig bought 3,580 shares of the stock in a transaction on Wednesday, May 20th. The shares were bought at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the transaction, the director directly owned 25,359 shares of the company’s stock, valued at $1,437,348.12. This trade represents a 16.44% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 9,800 shares of company stock worth $554,012 over the last 90 days. Company insiders own 0.34% of the company’s stock.

Boston Scientific Price Performance

Boston Scientific stock opened at $43.14 on Wednesday. Boston Scientific Corporation has a one year low of $42.20 and a one year high of $109.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90. The business has a fifty day moving average of $47.77 and a two-hundred day moving average of $64.93. The company has a market cap of $64.12 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58.

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

Boston Scientific announced that its board has approved a stock repurchase program on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on BSX shares. Jefferies Financial Group lowered their target price on Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Wolfe Research lowered shares of Boston Scientific from an “outperform” rating to a “peer perform” rating in a research report on Friday, May 29th. Weiss Ratings cut shares of Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. Needham & Company LLC cut their price objective on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. Finally, Truist Financial reduced their target price 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 equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.84.

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.