Cable Hill Partners LLC Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Cable Hill Partners LLC increased its position in Boston Scientific Co. (NYSE:BSX) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,209 shares of the medical equipment provider’s stock after purchasing an additional 323 shares during the quarter. Cable Hill Partners LLC’s holdings in Boston Scientific were worth $555,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in BSX. AustralianSuper Pty Ltd boosted its stake in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the last quarter. State Street Corp boosted its stake in Boston Scientific by 2.3% during the 3rd quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock valued at $5,266,522,000 after acquiring an additional 1,389,172 shares during the last quarter. Fisher Funds Management LTD bought a new position in Boston Scientific during the 4th quarter valued at $94,710,000. Impax Asset Management Group plc boosted its stake in Boston Scientific by 17.5% during 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 acquiring an additional 815,403 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Boston Scientific by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock valued at $2,750,385,000 after acquiring an additional 718,515 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BSX shares. Morgan Stanley increased their price objective on shares of Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Barclays increased their target price on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Friday, January 10th. TD Cowen increased their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Finally, Piper Sandler increased their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.39.

Boston Scientific Stock Up 0.9 %

Boston Scientific stock opened at $101.61 on Thursday. The stock has a market cap of $149.96 billion, a price-to-earnings ratio of 81.29, a PEG ratio of 2.79 and a beta of 0.80. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $98.73 and its two-hundred day moving average price is $89.95. Boston Scientific Co. has a 52 week low of $65.52 and a 52 week high of $107.17.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. On average, analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total transaction of $633,916.74. Following the transaction, the executive vice president now owns 29,308 shares of the company’s stock, valued at approximately $2,660,580.24. This trade represents a 19.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 35,319 shares in the company, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,305 shares of company stock worth $14,954,985 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

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.