Soros Fund Management LLC Trims Holdings in Boston Scientific Co. (NYSE:BSX)

Soros Fund Management LLC decreased its position in shares of Boston Scientific Co. (NYSE:BSX) by 71.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 100,000 shares of the medical equipment provider’s stock after selling 250,001 shares during the period. Soros Fund Management LLC’s holdings in Boston Scientific were worth $8,932,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Passumpsic Savings Bank bought a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $3,015,000. World Investment Advisors LLC raised its stake in shares of Boston Scientific by 50.9% in the third quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider’s stock worth $979,000 after purchasing an additional 3,939 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Boston Scientific during the third quarter valued at $1,175,000. Tidal Investments LLC boosted its position in shares of Boston Scientific by 8.8% during the third quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider’s stock valued at $7,249,000 after buying an additional 6,990 shares during the last quarter. Finally, Synovus Financial Corp increased its holdings in Boston Scientific by 7.1% in the 3rd quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider’s stock worth $1,468,000 after buying an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of Boston Scientific stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total transaction of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 138,009 shares of company stock valued at $14,407,381. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Up 0.3 %

Shares of NYSE BSX opened at $102.17 on Tuesday. Boston Scientific Co. has a 52-week low of $70.97 and a 52-week high of $107.17. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The company’s 50-day simple moving average is $98.62 and its 200-day simple moving average is $95.03. The firm has a market cap of $151.12 billion, a price-to-earnings ratio of 81.74, a price-to-earnings-growth ratio of 2.79 and a beta of 0.73.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analyst estimates of $4.57 billion. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.56 earnings per share. Equities analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BSX shares. BTIG Research reiterated a “buy” rating and issued a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Morgan Stanley boosted their price target on Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a report on Saturday, March 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research note on Friday, January 10th. Finally, Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Buy” and a consensus price target of $114.52.

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.