Iron Triangle Partners LP Invests $44.21 Million in Boston Scientific Co. (NYSE:BSX)

Iron Triangle Partners LP bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 495,009 shares of the medical equipment provider’s stock, valued at approximately $44,214,000. Boston Scientific makes up about 4.9% of Iron Triangle Partners LP’s investment portfolio, making the stock its 6th biggest position.

Other large investors also recently bought and sold shares of the company. Fortitude Family Office LLC increased its holdings in Boston Scientific by 62.0% in the fourth quarter. Fortitude Family Office LLC now owns 481 shares of the medical equipment provider’s stock valued at $43,000 after buying an additional 184 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Boston Scientific by 0.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 159,714 shares of the medical equipment provider’s stock valued at $13,384,000 after acquiring an additional 1,176 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Boston Scientific by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 47,023 shares of the medical equipment provider’s stock valued at $4,200,000 after acquiring an additional 1,153 shares during the last quarter. Graypoint LLC raised its position in shares of Boston Scientific by 3.8% during the 4th quarter. Graypoint LLC now owns 14,897 shares of the medical equipment provider’s stock worth $1,331,000 after acquiring an additional 550 shares in the last quarter. Finally, Czech National Bank lifted its stake in Boston Scientific by 6.4% during the fourth quarter. Czech National Bank now owns 319,328 shares of the medical equipment provider’s stock worth $28,522,000 after purchasing an additional 19,339 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of Boston Scientific stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $95.09, for a total transaction of $458,904.34. Following the completion of the sale, the senior vice president now owns 36,193 shares in the company, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 4,572 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the completion of the transaction, the executive vice president now owns 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 300,497 shares of company stock worth $31,056,815. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

BSX has been the subject of several research analyst reports. UBS Group upped their target price on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus raised their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Argus set a $130.00 target price on Boston Scientific in a report on Tuesday, February 18th. Royal Bank of Canada raised their price target on Boston Scientific from $116.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, Robert W. Baird raised their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has an average rating of “Buy” and an average target price of $114.52.

Boston Scientific Price Performance

BSX stock opened at $102.87 on Friday. The company has a market cap of $152.19 billion, a price-to-earnings ratio of 82.30, a PEG ratio of 2.79 and a beta of 0.68. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a 50 day moving average of $98.68 and a 200-day moving average of $95.99. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17.

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

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.