Brevan Howard Capital Management LP Boosts Holdings in Boston Scientific Co. (NYSE:BSX)

Brevan Howard Capital Management LP raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 196.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 97,340 shares of the medical equipment provider’s stock after buying an additional 64,489 shares during the period. Brevan Howard Capital Management LP’s holdings in Boston Scientific were worth $8,694,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Captrust Financial Advisors grew its stake in shares of Boston Scientific by 18.0% during the 4th quarter. Captrust Financial Advisors now owns 54,580 shares of the medical equipment provider’s stock worth $4,875,000 after purchasing an additional 8,316 shares during the period. Cary Street Partners Financial LLC acquired a new position in shares of Boston Scientific in the fourth quarter worth about $1,496,000. BW Gestao de Investimentos Ltda. purchased a new position in Boston Scientific during the fourth quarter worth approximately $2,702,000. Baird Financial Group Inc. lifted its position in shares of Boston Scientific by 12.8% during the 4th quarter. Baird Financial Group Inc. now owns 227,298 shares of the medical equipment provider’s stock valued at $20,302,000 after buying an additional 25,732 shares in the last quarter. Finally, Baldwin Investment Management LLC increased its stake in shares of Boston Scientific by 1.2% during the fourth quarter. Baldwin Investment Management LLC now owns 8,740 shares of the medical equipment provider’s stock worth $781,000 after purchasing an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $104.94 on Monday. The business has a 50 day moving average price of $98.59 and a 200 day moving average price of $95.49. 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 stock has a market cap of $155.21 billion, a price-to-earnings ratio of 83.95, a PEG ratio of 2.79 and a beta of 0.68. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSX. Piper Sandler boosted their target price on Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Truist Financial raised their price target on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Barclays upped their price objective on Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a research note on Friday, January 10th. Finally, BTIG Research reiterated a “buy” rating and set a $124.00 price target on shares of Boston Scientific in a report on Wednesday, April 23rd. Twenty-three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $114.52.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction on Monday, April 21st. The shares were 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 $3,441,592.37. This represents a 11.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jeffrey B. Mirviss sold 4,675 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $104.25, for a total transaction of $487,368.75. Following the completion of the sale, the executive vice president now directly owns 28,454 shares of the company’s stock, valued at $2,966,329.50. The trade was a 14.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 120,696 shares of company stock valued at $12,644,917 over the last quarter. Company insiders own 0.50% of the company’s stock.

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.