GAMMA Investing LLC Makes New Investment in Boston Scientific Co. (NYSE:BSX)

GAMMA Investing LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 7,462 shares of the medical equipment provider’s stock, valued at approximately $472,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSX. Bruce G. Allen Investments LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth approximately $28,000. Motco lifted its holdings in shares of Boston Scientific by 136.3% in the 3rd quarter. Motco now owns 645 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 372 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Boston Scientific by 58.0% in the 4th quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 215 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Boston Scientific by 42.6% in the 3rd quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 235 shares during the last quarter. Finally, CNB Bank bought a new stake in shares of Boston Scientific in the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Up 6.2 %

Shares of NYSE:BSX traded up $4.30 during midday trading on Wednesday, reaching $73.29. The company’s stock had a trading volume of 8,012,703 shares, compared to its average volume of 6,443,457. The firm has a 50 day moving average of $67.39 and a 200-day moving average of $60.19. The firm has a market capitalization of $107.52 billion, a P/E ratio of 68.38, a PEG ratio of 2.38 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a net margin of 11.19% and a return on equity of 15.99%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the firm earned $0.45 EPS. On average, research analysts anticipate that Boston Scientific Co. will post 2.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BSX shares. TD Cowen boosted their price objective on shares of Boston Scientific from $65.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, March 7th. Argus upped their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price target on shares of Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on shares of Boston Scientific from $60.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Evercore ISI upped their price target on shares of Boston Scientific from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.50.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at approximately $3,779,820.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the transaction, the director now owns 41,374 shares in the company, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,979 shares of company stock valued at $3,418,529. 0.50% of the stock is owned by insiders.

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.