255,363 Shares in Boston Scientific Corporation $BSX Acquired by Aureus Asset Management LLC

Aureus Asset Management LLC purchased a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 255,363 shares of the medical equipment provider’s stock, valued at approximately $16,024,000. Boston Scientific makes up 1.1% of Aureus Asset Management LLC’s portfolio, making the stock its 28th largest position.

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

Boston Scientific Trading Down 0.4%

NYSE:BSX opened at $43.01 on Thursday. The company has a market capitalization of $63.92 billion, a PE ratio of 17.99, a P/E/G ratio of 0.83 and a beta of 0.58. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The stock’s 50 day moving average price is $47.57 and its 200 day moving average price is $64.56. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, research analysts anticipate that Boston Scientific Corporation will post 3.35 EPS for the current year.

Boston Scientific announced that its board has approved a share repurchase program on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Edward J. Ludwig purchased 3,580 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David C. Habiger acquired 2,250 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, with a total value of $125,820.00. Following the transaction, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 9,800 shares of company stock valued at $554,012 over the last quarter. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Robert W. Baird set a $70.00 price target on Boston Scientific in a report on Thursday, May 28th. 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. Truist Financial cut their price objective on shares of Boston Scientific from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 16th. Finally, Oppenheimer set a $90.00 price objective on shares of Boston Scientific in a research report on Thursday, April 23rd. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.84.

Boston Scientific Company 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.