XTX Topco Ltd Makes New Investment in Boston Scientific Co. (NYSE:BSX)

XTX Topco Ltd acquired a new position in shares of Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 13,532 shares of the medical equipment provider’s stock, valued at approximately $1,134,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific during the 2nd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $28,000. Andra AP fonden purchased a new position in shares of Boston Scientific during the 2nd quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $30,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 4,877 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on BSX shares. Bank of America boosted their price target on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Evercore ISI boosted their price target on shares of Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Mizuho boosted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial lifted their price objective 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. Finally, Royal Bank of Canada lifted their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Four research 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 stock. According to data from MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus target price of $93.52.

Boston Scientific Stock Performance

NYSE BSX opened at $88.74 on Tuesday. The stock has a market cap of $130.78 billion, a P/E ratio of 73.33, a PEG ratio of 2.65 and a beta of 0.80. The company’s 50-day simple moving average is $87.50 and its 200 day simple moving average is $81.44. Boston Scientific Co. has a twelve month low of $54.86 and a twelve month high of $91.93. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. As a group, research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

About Boston Scientific

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.