Longboard Asset Management LP Acquires Shares of 3,338 Boston Scientific Co. (NYSE:BSX)

Longboard Asset Management LP bought a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,338 shares of the medical equipment provider’s stock, valued at approximately $298,000. Boston Scientific makes up approximately 0.8% of Longboard Asset Management LP’s investment portfolio, making the stock its largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CRA Financial Services LLC increased its holdings in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock valued at $238,000 after buying an additional 117 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Boston Scientific by 9.7% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 119 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Boston Scientific by 4.4% in the 4th quarter. Grove Bank & Trust now owns 2,923 shares of the medical equipment provider’s stock valued at $261,000 after acquiring an additional 122 shares during the last quarter. PFG Investments LLC raised its position in shares of Boston Scientific by 1.6% during the 4th quarter. PFG Investments LLC now owns 8,113 shares of the medical equipment provider’s stock valued at $725,000 after acquiring an additional 125 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its position in shares of Boston Scientific by 1.6% during the 4th quarter. Stonegate Investment Group LLC now owns 7,827 shares of the medical equipment provider’s stock valued at $699,000 after acquiring an additional 126 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on BSX. Raymond James boosted their target price on shares of Boston Scientific from $101.00 to $119.00 and gave the company a “strong-buy” rating in a research note on Friday. Mizuho boosted their price objective 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. Citigroup increased their price objective on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Stifel Nicolaus lifted their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Wells Fargo & Company increased their price target on Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of “Buy” and a consensus target price of $100.39.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction that occurred 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 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 document filed with the SEC, which is accessible through this link. Also, Director Edward J. Ludwig sold 4,877 shares of the 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 sale, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock valued at $2,702,261 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 0.7 %

Shares of NYSE:BSX opened at $103.11 on Tuesday. The company has a 50 day moving average of $93.47 and a 200-day moving average of $86.33. 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 firm has a market cap of $151.97 billion, a P/E ratio of 85.22, a P/E/G ratio of 2.68 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $64.08 and a twelve month high of $104.25.

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.