Longboard Asset Management LP Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

Longboard Asset Management LP purchased a new position in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, Holdings Channel.com reports. The firm purchased 3,338 shares of the medical equipment provider’s stock, valued at approximately $298,000. Boston Scientific accounts for approximately 0.8% of Longboard Asset Management LP’s portfolio, making the stock its largest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the third quarter worth $28,000. Dunhill Financial LLC lifted its stake in Boston Scientific by 86.4% in the 3rd quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 152 shares in the last quarter. Global Wealth Strategies & Associates boosted its position in Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 250 shares during the period. West Oak Capital LLC purchased a new position in Boston Scientific during the 4th quarter valued at about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Arthur C. Butcher sold 14,010 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. This trade represents a 10.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,989 shares of company stock valued at $2,702,261. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Up 0.7 %

Boston Scientific stock opened at $103.11 on Tuesday. The firm has a market cap of $151.97 billion, a price-to-earnings ratio of 85.22, a P/E/G ratio of 2.68 and a beta of 0.80. The firm has a fifty day moving average price of $93.47 and a two-hundred day moving average price of $86.33. Boston Scientific Co. has a fifty-two week low of $64.08 and a fifty-two week high of $104.25. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Wall Street Analyst Weigh In

BSX has been the subject of several research reports. JPMorgan Chase & Co. raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Sanford C. Bernstein lifted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific presently has an average rating of “Buy” and a consensus target price of $100.39.

Boston Scientific Company 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.