Magnetar Financial LLC Acquires 141,330 Shares of Boston Scientific Co. (NYSE:BSX)

Magnetar Financial LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 57.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 389,375 shares of the medical equipment provider’s stock after purchasing an additional 141,330 shares during the period. Magnetar Financial LLC’s holdings in Boston Scientific were worth $29,986,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC grew its position in shares of Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares during the last quarter. International Assets Investment Management LLC increased its position in Boston Scientific by 0.6% during the 2nd quarter. International Assets Investment Management LLC now owns 22,596 shares of the medical equipment provider’s stock valued at $1,740,000 after purchasing an additional 139 shares during the period. ST Germain D J Co. Inc. lifted its position in shares of Boston Scientific by 8.0% in the 2nd quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after purchasing an additional 143 shares during the period. Pinnacle Associates Ltd. raised its stake in Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after buying an additional 148 shares during the last quarter. Finally, Transcend Capital Advisors LLC raised its position in shares of Boston Scientific by 2.2% in the 2nd quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock worth $522,000 after acquiring an additional 148 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 20,949 shares of company stock worth $1,627,877 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore ISI increased their price target on Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Tuesday, July 2nd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Robert W. Baird raised their target price on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen boosted their target price on Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Needham & Company LLC increased their price target on Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific presently has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Price Performance

Boston Scientific stock opened at $83.92 on Monday. Boston Scientific Co. has a 12 month low of $48.35 and a 12 month high of $84.89. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $78.72 and its 200 day simple moving average is $74.73. The company has a market cap of $123.12 billion, a price-to-earnings ratio of 70.52, a PEG ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. Sell-side analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.