Polar Asset Management Partners Inc. Sells 358,800 Shares of Boston Scientific Co. (NYSE:BSX)

Polar Asset Management Partners Inc. decreased its position in Boston Scientific Co. (NYSE:BSX) by 55.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 285,100 shares of the medical equipment provider’s stock after selling 358,800 shares during the period. Polar Asset Management Partners Inc.’s holdings in Boston Scientific were worth $23,891,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific in the 2nd quarter valued at $26,000. Values First Advisors Inc. acquired a new position in shares of Boston Scientific during the third quarter valued at about $28,000. Andra AP fonden bought a new position in shares of Boston Scientific during the 2nd quarter worth about $29,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at about $30,000. Finally, Capital Performance Advisors LLP bought a new stake in Boston Scientific in the 3rd quarter valued at about $30,000. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $90.47 on Wednesday. The company’s 50 day simple moving average is $86.97 and its two-hundred day simple moving average is $81.03. The stock has a market capitalization of $133.34 billion, a PE ratio of 74.77, a P/E/G ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. Analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BSX shares. Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Morgan Stanley boosted their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Barclays lifted their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Royal Bank of Canada increased their price objective on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Insider Transactions at Boston Scientific

In related 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 owns 978 shares in the company, valued at $87,306.06. This trade represents a 93.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 321,174 shares of company stock valued at $27,323,759 in the last quarter. Insiders own 0.50% of the company’s stock.

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.