Polar Asset Management Partners Inc. Reduces Stock Position in Boston Scientific Co. (NYSE:BSX)

Polar Asset Management Partners Inc. trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 55.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 285,100 shares of the medical equipment provider’s stock after selling 358,800 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Boston Scientific were worth $23,891,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CRA Financial Services LLC lifted its holdings in Boston Scientific by 4.3% in the 3rd quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after buying an additional 117 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in shares of Boston Scientific by 9.7% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 119 shares in the last quarter. Adero Partners LLC boosted its holdings in Boston Scientific by 3.6% in the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock valued at $303,000 after acquiring an additional 127 shares in the last quarter. Ashton Thomas Securities LLC increased its position in Boston Scientific by 1.3% during the 3rd quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock valued at $835,000 after purchasing an additional 129 shares during the period. Finally, Jacobsen Capital Management raised its holdings in Boston Scientific by 4.9% in the 3rd quarter. Jacobsen Capital Management now owns 2,820 shares of the medical equipment provider’s stock worth $236,000 after purchasing an additional 133 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

NYSE:BSX opened at $90.47 on Wednesday. The stock has a 50-day moving average price of $86.97 and a 200 day moving average price of $81.03. The stock has a market capitalization of $133.34 billion, a P/E ratio of 74.77, a P/E/G ratio of 2.66 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter last year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 16.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 321,174 shares of company stock valued at $27,323,759 in the last 90 days. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BSX shares. Truist Financial boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Raymond James raised their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus upped their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price 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.