AlphaQuest LLC Purchases 10,172 Shares of Boston Scientific Co. (NYSE:BSX)

AlphaQuest LLC lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 57.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 27,958 shares of the medical equipment provider’s stock after acquiring an additional 10,172 shares during the quarter. Boston Scientific accounts for about 0.3% of AlphaQuest LLC’s holdings, making the stock its 29th biggest holding. AlphaQuest LLC’s holdings in Boston Scientific were worth $2,497,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares during the last quarter. Mechanics Bank Trust Department bought a new position in Boston Scientific during the 4th quarter worth approximately $415,000. Highland Capital Management LLC purchased a new position in Boston Scientific in the 4th quarter worth approximately $4,887,000. Covenant Asset Management LLC bought a new stake in Boston Scientific in the fourth quarter valued at approximately $3,405,000. Finally, Brookstone Capital Management boosted its stake in shares of Boston Scientific by 23.7% during the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Canaccord Genuity Group raised their price target on shares of Boston Scientific from $98.00 to $101.00 and gave the stock a “buy” rating in a report on Monday, December 9th. Piper Sandler upped their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. increased their target price 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. Finally, Barclays boosted their price target on Boston Scientific from $111.00 to $118.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Two research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $108.91.

Insider Transactions at Boston Scientific

In related news, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total value of $487,368.75. Following the transaction, the executive vice president now owns 28,454 shares in the company, valued at $2,966,329.50. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 67,333 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the sale, the chief financial officer now directly owns 225,808 shares in the company, valued at $23,764,033.92. This trade represents a 22.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,322 shares of company stock valued at $14,321,068. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Down 1.6 %

Shares of NYSE BSX opened at $99.15 on Friday. Boston Scientific Co. has a 1 year low of $65.52 and a 1 year high of $107.17. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The firm has a 50-day moving average of $100.45 and a 200 day moving average of $91.19. The stock has a market cap of $146.33 billion, a P/E ratio of 79.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, sell-side analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

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.