Dark Forest Capital Management LP Acquires 1,924 Shares of Boston Scientific Co. (NYSE:BSX)

Dark Forest Capital Management LP grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 60.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,130 shares of the medical equipment provider’s stock after purchasing an additional 1,924 shares during the period. Dark Forest Capital Management LP’s holdings in Boston Scientific were worth $395,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Eagle Bay Advisors LLC raised its holdings in Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the 1st quarter valued at approximately $25,000. Triad Wealth Partners LLC bought a new position in shares of Boston Scientific in the second quarter valued at $26,000. Andra AP fonden acquired a new position in Boston Scientific during the second quarter worth $29,000. Finally, RiverPark Advisors LLC bought a new stake in Boston Scientific during the first quarter worth $30,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Price Performance

Boston Scientific stock opened at $83.35 on Friday. The stock’s fifty day moving average price is $79.33 and its two-hundred day moving average price is $75.25. The firm has a market cap of $122.28 billion, a PE ratio of 70.04, a price-to-earnings-growth ratio of 2.78 and a beta of 0.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts expect that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 20,949 shares of company stock worth $1,627,877. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

BSX has been the subject of a number of analyst reports. TD Cowen lifted their price objective on shares of Boston Scientific from $77.00 to $86.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted their price target on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays raised their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Canaccord Genuity Group boosted their target price on Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Truist Financial raised their price target on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.65.

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.