Magnetar Financial LLC Has $29.99 Million Stake in Boston Scientific Co. (NYSE:BSX)

Magnetar Financial LLC increased its position in Boston Scientific Co. (NYSE:BSX) by 57.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,375 shares of the medical equipment provider’s stock after purchasing an additional 141,330 shares during the quarter. Magnetar Financial LLC’s holdings in Boston Scientific were worth $29,986,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. Triad Wealth Partners LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth about $26,000. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the first quarter valued at $25,000. Eagle Bay Advisors LLC raised its holdings in shares of Boston Scientific by 542.1% in the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Andra AP fonden acquired a new position in shares of Boston Scientific during the second quarter worth approximately $29,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $30,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 20,949 shares of company stock worth $1,627,877 over the last three months. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus upped their price target on Boston Scientific from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research note on Thursday, July 25th. Canaccord Genuity Group upped their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC upped their price target on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Evercore ISI lifted their price objective on shares of Boston Scientific from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific has an average rating of “Moderate Buy” and an average target price of $86.65.

Boston Scientific Stock Up 0.3 %

NYSE BSX opened at $83.92 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The company has a market cap of $123.12 billion, a price-to-earnings ratio of 70.52, a PEG ratio of 2.75 and a beta of 0.79. The company has a 50 day moving average of $78.72 and a 200-day moving average of $74.73. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $84.89.

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

Boston Scientific Company 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.