Point72 Europe London LLP Sells 166,126 Shares of Boston Scientific Co. (NYSE:BSX)

Point72 Europe London LLP lessened its stake in shares of Boston Scientific Co. (NYSE:BSXFree Report) by 54.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,667 shares of the medical equipment provider’s stock after selling 166,126 shares during the quarter. Point72 Europe London LLP’s holdings in Boston Scientific were worth $8,074,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of BSX. Bruce G. Allen Investments LLC bought a new stake in Boston Scientific during the 4th quarter valued at $28,000. Sachetta LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $32,000. Frazier Financial Advisors LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at $32,000. Jones Financial Companies Lllp lifted its holdings in shares of Boston Scientific by 53.0% during the 4th quarter. Jones Financial Companies Lllp now owns 557 shares of the medical equipment provider’s stock valued at $32,000 after purchasing an additional 193 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Boston Scientific by 58.0% during the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BSX. Barclays increased their price objective on Boston Scientific from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, April 26th. TD Cowen increased their price target on Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, March 7th. Mizuho increased their price target on Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, May 15th. UBS Group raised their target price on Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, Citigroup raised their target price on Boston Scientific from $85.00 to $87.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.70.

Get Our Latest Stock Report on Boston Scientific

Boston Scientific Price Performance

BSX traded down $0.28 during trading on Tuesday, reaching $77.14. The company’s stock had a trading volume of 3,754,378 shares, compared to its average volume of 6,357,205. The company has a quick ratio of 1.14, a current ratio of 1.66 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $72.56 and a two-hundred day simple moving average of $65.70. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $77.56. The company has a market cap of $113.17 billion, a price-to-earnings ratio of 64.82, a PEG ratio of 2.65 and a beta of 0.81.

Boston Scientific (NYSE:BSXGet Free Report) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.68 billion. As a group, analysts anticipate that Boston Scientific Co. will post 2.32 EPS for the current year.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now owns 45,628 shares of the company’s stock, valued at approximately $3,437,157.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the sale, the executive vice president now owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $75.33, for a total transaction of $526,029.39. Following the sale, the executive vice president now directly owns 45,628 shares in the company, valued at approximately $3,437,157.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,627 shares of company stock valued at $5,937,353. 0.50% of the stock is currently owned by company insiders.

About Boston Scientific

(Free Report)

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.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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