GAMMA Investing LLC Has $1.95 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

GAMMA Investing LLC boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 25.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 21,809 shares of the medical equipment provider’s stock after acquiring an additional 4,377 shares during the period. GAMMA Investing LLC’s holdings in Boston Scientific were worth $1,948,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Boston Scientific by 5.5% in the 2nd quarter. Van ECK Associates Corp now owns 49,012 shares of the medical equipment provider’s stock valued at $3,774,000 after purchasing an additional 2,541 shares in the last quarter. Simon Quick Advisors LLC increased its position in Boston Scientific by 33.6% during the 2nd quarter. Simon Quick Advisors LLC now owns 5,269 shares of the medical equipment provider’s stock worth $406,000 after purchasing an additional 1,326 shares in the last quarter. TD Asset Management Inc boosted its position in Boston Scientific by 4.6% in the second quarter. TD Asset Management Inc now owns 2,152,974 shares of the medical equipment provider’s stock valued at $165,801,000 after buying an additional 93,713 shares in the last quarter. SouthState Corp increased its holdings in Boston Scientific by 0.3% in the 2nd quarter. SouthState Corp now owns 156,636 shares of the medical equipment provider’s stock worth $12,063,000 after purchasing an additional 427 shares in the last quarter. Finally, National Bank of Canada FI boosted its position in Boston Scientific by 109.0% during the 2nd quarter. National Bank of Canada FI now owns 441,670 shares of the medical equipment provider’s stock worth $33,746,000 after buying an additional 230,323 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $89.38 on Friday. The firm has a market capitalization of $131.73 billion, a price-to-earnings ratio of 73.87, a PEG ratio of 2.67 and a beta of 0.80. The stock’s 50 day moving average is $88.86 and its 200-day moving average is $83.10. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $57.33 and a twelve month high of $91.93.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 11.26% and a return on equity of 17.23%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.50 earnings per share. Sell-side analysts forecast that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Ratings Changes

BSX has been the subject of several analyst reports. Truist Financial raised their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen lifted their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. BTIG Research upped their price target on Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, Stifel Nicolaus upped their target price on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.96.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the sale, the executive vice president now owns 29,308 shares in the company, valued at $2,660,580.24. This represents a 19.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the transaction, the executive vice president now directly owns 978 shares in the company, valued at $87,306.06. The trade was a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,174 shares of company stock worth $27,372,081. 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.