Boston Scientific Co. (NYSE:BSX) Shares Sold by Cinctive Capital Management LP

Cinctive Capital Management LP reduced its position in Boston Scientific Co. (NYSE:BSX) by 29.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 175,563 shares of the medical equipment provider’s stock after selling 73,431 shares during the quarter. Boston Scientific comprises about 0.8% of Cinctive Capital Management LP’s holdings, making the stock its 28th largest position. Cinctive Capital Management LP’s holdings in Boston Scientific were worth $14,712,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Cetera Advisors LLC raised its holdings in Boston Scientific by 126.7% during the first quarter. Cetera Advisors LLC now owns 36,577 shares of the medical equipment provider’s stock worth $2,505,000 after purchasing an additional 20,439 shares in the last quarter. Transcend Capital Advisors LLC lifted its holdings 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 valued at $522,000 after buying an additional 148 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in shares of Boston Scientific by 17.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 4,690 shares of the medical equipment provider’s stock valued at $361,000 after buying an additional 705 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Boston Scientific during the second quarter worth $220,000. Finally, Versant Capital Management Inc raised its position in Boston Scientific by 485.1% in the second quarter. Versant Capital Management Inc now owns 866 shares of the medical equipment provider’s stock worth $67,000 after acquiring an additional 718 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig sold 4,877 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. The trade was a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. This represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,157 shares of company stock worth $27,894,270. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

BSX stock opened at $90.66 on Monday. The stock has a market capitalization of $133.62 billion, a price-to-earnings ratio of 74.93, a price-to-earnings-growth 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. The stock’s fifty day simple moving average is $86.70 and its 200-day simple moving average is $80.80.

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

Analyst Ratings Changes

Several equities research analysts have commented on the stock. BTIG Research boosted their target price on shares of Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup lifted their price target on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Raymond James boosted their price target on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Finally, TD Cowen raised their price objective on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.