Quantbot Technologies LP Invests $10.27 Million in Boston Scientific Co. (NYSE:BSX)

Quantbot Technologies LP acquired a new position in Boston Scientific Co. (NYSE:BSX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 133,350 shares of the medical equipment provider’s stock, valued at approximately $10,269,000. Boston Scientific makes up about 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 19th biggest position.

Several other large investors have also added to or reduced their stakes in the business. Eagle Bay Advisors LLC lifted its position in Boston Scientific by 542.1% during the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 309 shares in the last quarter. First Foundation Advisors acquired a new stake in shares of Boston Scientific in the first quarter valued at about $25,000. Triad Wealth Partners LLC bought a new stake in Boston Scientific during the second quarter worth about $26,000. Andra AP fonden bought a new position in Boston Scientific in the second quarter valued at approximately $29,000. Finally, RiverPark Advisors LLC bought a new position in Boston Scientific in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BSX. Robert W. Baird increased their price objective on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Raymond James lifted their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Evercore ISI upped their target price on shares of Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on Boston Scientific in a research report on Thursday, May 30th. They set a “buy” rating and a $90.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $85.00 target price on shares of Boston Scientific in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 20,949 shares of company stock valued at $1,627,877 in the last ninety days. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Trading Down 0.6 %

Shares of BSX stock opened at $83.31 on Monday. The stock has a 50 day simple moving average of $78.08 and a 200 day simple moving average of $74.16. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.11. 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 stock has a market cap of $122.68 billion, a P/E ratio of 70.01, a price-to-earnings-growth ratio of 2.75 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the firm posted $0.53 EPS. Boston Scientific’s quarterly revenue was up 14.5% on a year-over-year basis. On average, research analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

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.