Cinctive Capital Management LP Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BSX. Legal & General Group Plc raised its holdings in Boston Scientific by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after buying an additional 360,793 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Boston Scientific by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock valued at $671,940,000 after acquiring an additional 64,720 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Boston Scientific by 30.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. Marshall Wace LLP boosted its position in shares of Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after purchasing an additional 3,608,158 shares during the period. Finally, Impax Asset Management Group plc increased its holdings in Boston Scientific by 17.5% in the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.1 %

Shares of NYSE:BSX opened at $90.66 on Monday. The firm has a 50 day simple moving average of $86.70 and a 200-day simple moving average of $80.80. Boston Scientific Co. has a twelve month low of $53.93 and a twelve 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. The company has a market capitalization of $133.62 billion, a PE ratio of 74.93, a P/E/G ratio of 2.67 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced 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 firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, equities analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BSX shares. Royal Bank of Canada raised their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Bank of America lifted their target price on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Mizuho raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Insider Activity

In other news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on 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 transaction, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. The trade was a 93.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 328,157 shares of company stock valued at $27,894,270. Insiders own 0.50% of the company’s stock.

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.