Atomi Financial Group Inc. Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Atomi Financial Group Inc. lifted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,631 shares of the medical equipment provider’s stock after buying an additional 1,365 shares during the period. Atomi Financial Group Inc.’s holdings in Boston Scientific were worth $860,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Boston Scientific by 4.4% in the third 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 acquiring an additional 173,034 shares during the period. Mechanics Bank Trust Department bought a new stake in Boston Scientific in the 4th quarter worth approximately $415,000. Brookstone Capital Management raised its stake in Boston Scientific by 23.7% during the 4th quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after buying an additional 20,307 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Boston Scientific by 5.9% during the 3rd quarter. Principal Financial Group Inc. now owns 2,010,441 shares of the medical equipment provider’s stock valued at $168,475,000 after buying an additional 111,724 shares during the period. Finally, HWG Holdings LP purchased a new position in shares of Boston Scientific in the 2nd quarter worth $482,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.6 %

Shares of BSX stock opened at $100.29 on Thursday. The stock’s 50-day moving average price is $91.45 and its 200-day moving average price is $84.93. Boston Scientific Co. has a 12-month low of $59.85 and a 12-month high of $101.65. The stock has a market capitalization of $147.81 billion, a price-to-earnings ratio of 82.88, a price-to-earnings-growth ratio of 2.59 and a beta of 0.80. 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 (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the prior year, the firm earned $0.50 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of recent research reports. Royal Bank of Canada increased their target price on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Stifel Nicolaus raised their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Mizuho upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 27th. Finally, Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

Insider Activity at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the sale, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. The trade was a 19.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,119 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $90.02, for a total transaction of $370,792.38. Following the completion of the transaction, the executive vice president now directly owns 35,319 shares of the company’s stock, valued at approximately $3,179,416.38. The trade was a 10.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock valued at $2,702,261 over the last 90 days. 0.50% of the stock is owned by corporate insiders.

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.