Point72 Asia Singapore Pte. Ltd. Makes New Investment in Boston Scientific Co. (NYSE:BSX)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,229 shares of the medical equipment provider’s stock, valued at approximately $438,000.

Other large investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Boston Scientific by 4.4% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock worth $345,205,000 after buying an additional 173,034 shares during the period. BDF Gestion purchased a new stake in Boston Scientific in the second quarter worth $3,570,000. Brookstone Capital Management boosted its holdings in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after acquiring an additional 55,645 shares in the last quarter. HWG Holdings LP purchased a new position in Boston Scientific during the 2nd quarter valued at $482,000. Finally, PGGM Investments raised its holdings in Boston Scientific by 9.6% in the 2nd quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider’s stock worth $9,071,000 after purchasing an additional 10,366 shares in the last quarter. 89.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BSX. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Barclays lifted 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. Stifel Nicolaus increased their target price on Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Sanford C. Bernstein lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Bank of America upped their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 16.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,174 shares of company stock valued at $27,323,759 in the last quarter. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

BSX stock opened at $90.43 on Tuesday. The stock has a market capitalization of $133.28 billion, a PE ratio of 74.74, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $53.93 and a 12-month high of $91.93. The stock’s 50 day simple moving average is $86.70 and its 200 day simple moving average is $80.80.

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

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.