Braidwell LP Invests $15.86 Million in Boston Scientific Co. (NYSE:BSX)

Braidwell LP bought a new position in shares of Boston Scientific Co. (NYSE:BSX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 189,200 shares of the medical equipment provider’s stock, valued at approximately $15,855,000.

A number of other institutional investors have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new stake in Boston Scientific in the second quarter valued at $26,000. Values First Advisors Inc. acquired a new stake in Boston Scientific in the third quarter valued at $28,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in Boston Scientific in the third quarter valued at $30,000. Capital Performance Advisors LLP acquired a new stake in Boston Scientific in the third quarter valued at $30,000. Finally, Andra AP fonden acquired a new stake in Boston Scientific in the second quarter valued at $29,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

Shares of BSX opened at $90.75 on Friday. The firm has a 50-day moving average price of $86.57 and a 200 day moving average price of $80.58. The firm has a market capitalization of $133.75 billion, a PE ratio of 75.00, a P/E/G ratio of 2.67 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52-week low of $53.93 and a 52-week high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the prior year, the company earned $0.50 EPS. Boston Scientific’s revenue was up 19.3% on a year-over-year basis. On average, sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BSX. Stifel Nicolaus boosted their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Raymond James boosted their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research note on Wednesday, September 4th. BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now directly owns 39,398 shares of the company’s stock, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is currently owned by corporate 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.