Lighthouse Investment Partners LLC Reduces Position in Boston Scientific Co. (NYSE:BSX)

Lighthouse Investment Partners LLC cut its position in Boston Scientific Co. (NYSE:BSX) by 86.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,000 shares of the medical equipment provider’s stock after selling 122,762 shares during the period. Lighthouse Investment Partners LLC’s holdings in Boston Scientific were worth $1,786,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Iron Triangle Partners LP purchased a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $44,214,000. Guardian Wealth Advisors LLC NC lifted its position in Boston Scientific by 8.6% in the fourth quarter. Guardian Wealth Advisors LLC NC now owns 2,598 shares of the medical equipment provider’s stock valued at $232,000 after acquiring an additional 205 shares during the last quarter. Gen Wealth Partners Inc acquired a new position in Boston Scientific in the fourth quarter valued at $72,000. Gotham Asset Management LLC grew its holdings in shares of Boston Scientific by 43.7% during the fourth quarter. Gotham Asset Management LLC now owns 11,430 shares of the medical equipment provider’s stock worth $1,021,000 after purchasing an additional 3,475 shares during the last quarter. Finally, Focus Partners Wealth increased its position in shares of Boston Scientific by 156.5% during the fourth quarter. Focus Partners Wealth now owns 379,253 shares of the medical equipment provider’s stock worth $33,881,000 after purchasing an additional 231,371 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 4,826 shares of the firm’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares of the company’s stock, valued at $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 is available at this hyperlink. Also, CEO Michael F. Mahoney sold 164,443 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the completion of the transaction, the chief executive officer now directly owns 1,535,706 shares of the company’s stock, valued at $157,379,150.88. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 267,021 shares of company stock valued at $27,534,636 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Piper Sandler raised their target price on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup upped their price target on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC raised their price objective on shares of Boston Scientific from $113.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. Finally, Barclays lifted their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Twenty-three analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $114.52.

Boston Scientific Stock Performance

Shares of BSX opened at $102.92 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 52-week low of $71.88 and a 52-week high of $107.17. The company has a 50-day simple moving average of $98.69 and a 200-day simple moving average of $96.24. The company has a market capitalization of $152.26 billion, a PE ratio of 82.34, a P/E/G ratio of 2.79 and a beta of 0.68.

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 analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share 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.