Braidwell LP Invests $15.86 Million in Boston Scientific Co. (NYSE:BSX)

Braidwell LP purchased a new position in Boston Scientific Co. (NYSE:BSX) in the third quarter, Holdings Channel reports. The fund purchased 189,200 shares of the medical equipment provider’s stock, valued at approximately $15,855,000.

A number of other hedge funds have also made changes to their positions in the stock. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the second quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in Boston Scientific in the third quarter worth approximately $28,000. Andra AP fonden acquired a new position in Boston Scientific in the second quarter worth approximately $29,000. Lynx Investment Advisory acquired a new position in Boston Scientific in the second quarter worth approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific in the third quarter worth approximately $30,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 328,157 shares of company stock valued at $27,894,270 over the last ninety days. 0.50% of the stock is owned by company insiders.

Boston Scientific Stock Up 0.6 %

Shares of BSX stock opened at $90.75 on Friday. The stock has a market cap of $133.75 billion, a P/E ratio of 75.00, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.93. The stock has a fifty day moving average price of $86.57 and a 200 day moving average price of $80.58. 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 (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the business earned $0.50 earnings per share. Analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on BSX. Canaccord Genuity Group increased their price objective on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Stifel Nicolaus increased their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. BTIG Research increased their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America increased their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four equities research 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.39.

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.