Alpha DNA Investment Management LLC Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Alpha DNA Investment Management LLC lessened its stake in Boston Scientific Co. (NYSE:BSX) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,323 shares of the medical equipment provider’s stock after selling 281 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Boston Scientific were worth $865,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. bought a new stake in shares of Boston Scientific in the third quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Boston Scientific in the third quarter worth about $30,000. Capital Performance Advisors LLP bought a new position in Boston Scientific during the third quarter valued at approximately $30,000. Finally, Andra AP fonden bought a new stake in Boston Scientific in the 2nd quarter worth approximately $29,000. Institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BSX. Truist Financial boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Bank of America raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a research note on Monday, November 18th. Finally, Sanford C. Bernstein boosted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Stock Down 1.6 %

NYSE:BSX opened at $90.00 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.93. The company has a 50-day moving average of $85.99 and a 200 day moving average of $80.16. The firm has a market cap of $132.64 billion, a PE ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, research analysts anticipate that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This trade represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,147 shares of company stock valued at $26,643,598. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Company 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.