Point72 Hong Kong Ltd Purchases New Position in Boston Scientific Co. (NYSE:BSX)

Point72 Hong Kong Ltd acquired a new position in Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 59,776 shares of the medical equipment provider’s stock, valued at approximately $4,603,000.

Other large investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the second quarter worth $26,000. First Foundation Advisors purchased a new stake in shares of Boston Scientific in the 1st quarter worth about $25,000. Eagle Bay Advisors LLC boosted its stake in shares of Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Andra AP fonden purchased a new position in shares of Boston Scientific during the second quarter valued at about $29,000. Finally, Lynx Investment Advisory bought a new position in Boston Scientific in the second quarter worth about $30,000. 89.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BSX. Raymond James upped their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial raised their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Citigroup upped their target price on shares of Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, The Goldman Sachs Group began coverage on shares of Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.65.

Boston Scientific Trading Down 0.6 %

Shares of NYSE:BSX opened at $83.51 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89. The company has a market cap of $122.52 billion, a P/E ratio of 70.18, a PEG ratio of 2.75 and a beta of 0.79. The stock’s fifty day moving average price is $78.94 and its 200-day moving average price is $74.96.

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

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the sale, the executive vice president now directly owns 42,908 shares in the company, valued at approximately $3,316,788.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last quarter, insiders have sold 20,949 shares of company stock worth $1,627,877. 0.50% of the stock is owned by insiders.

Boston Scientific 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.