Graham Capital Management L.P. Lowers Holdings in Boston Scientific Co. (NYSE:BSX)

Graham Capital Management L.P. lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 98.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,611 shares of the medical equipment provider’s stock after selling 161,675 shares during the period. Graham Capital Management L.P.’s holdings in Boston Scientific were worth $233,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. TFC Financial Management Inc. lifted its holdings in shares of Boston Scientific by 308.8% during the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 210 shares during the last quarter. Colonial Trust Co SC increased its position in shares of Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares during the period. Valley National Advisers Inc. increased its position in shares of Boston Scientific by 262.4% in the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 286 shares during the period. Fairway Wealth LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at $36,000. Finally, Global Trust Asset Management LLC increased its position in shares of Boston Scientific by 64.5% in the 4th quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider’s stock valued at $39,000 after acquiring an additional 171 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 1.1%

Boston Scientific stock opened at $106.00 on Monday. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. The firm has a 50 day moving average price of $99.18 and a 200 day moving average price of $96.74. The company has a market capitalization of $156.83 billion, a PE ratio of 84.80, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business had revenue of $4.66 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the company earned $0.56 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other Boston Scientific news, SVP Vance R. Brown sold 4,826 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now owns 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now owns 18,705 shares of the company’s stock, valued at $1,955,420.70. This represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,820 shares of company stock worth $27,406,958. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Piper Sandler increased their price target on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Raymond James raised their target price on Boston Scientific from $119.00 to $122.00 and gave the company a “strong-buy” rating in a research report on Thursday, February 6th. Truist Financial raised their target price on Boston Scientific from $113.00 to $117.00 and gave the company a “buy” rating in a research report on Thursday, April 24th. UBS Group raised their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Robert W. Baird raised their price target on shares of Boston Scientific from $115.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $114.74.

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.