Lombard Odier Asset Management Switzerland SA Has $2.20 Million Stock Position in Boston Scientific Corporation $BSX

Lombard Odier Asset Management Switzerland SA decreased its position in Boston Scientific Corporation (NYSE:BSX) by 34.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 35,102 shares of the medical equipment provider’s stock after selling 18,562 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Boston Scientific were worth $2,203,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Lombard Odier Asset Management Europe Ltd increased its holdings in shares of Boston Scientific by 5.7% in the first quarter. Lombard Odier Asset Management Europe Ltd now owns 151,463 shares of the medical equipment provider’s stock valued at $9,504,000 after purchasing an additional 8,184 shares in the last quarter. Aristotle Atlantic Partners LLC boosted its position in Boston Scientific by 5.9% in the 1st quarter. Aristotle Atlantic Partners LLC now owns 223,520 shares of the medical equipment provider’s stock valued at $14,026,000 after buying an additional 12,480 shares during the last quarter. Waverly Advisors LLC increased its stake in shares of Boston Scientific by 8.5% in the 1st quarter. Waverly Advisors LLC now owns 162,989 shares of the medical equipment provider’s stock valued at $10,228,000 after buying an additional 12,801 shares during the period. Unisphere Establishment increased its stake in shares of Boston Scientific by 28.8% in the 1st quarter. Unisphere Establishment now owns 2,802,700 shares of the medical equipment provider’s stock valued at $175,869,000 after buying an additional 626,000 shares during the period. Finally, Entropy Technologies LP raised its position in shares of Boston Scientific by 82.5% during the first quarter. Entropy Technologies LP now owns 282,967 shares of the medical equipment provider’s stock worth $17,756,000 after acquiring an additional 127,941 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BSX shares. Mizuho lowered their price target on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a report on Thursday, May 28th. Truist Financial lowered their target price on shares of Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Piper Sandler reaffirmed an “overweight” rating and set a $65.00 target price on shares of Boston Scientific in a report on Friday, June 12th. Finally, Jefferies Financial Group dropped their target price on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, Director Cheryl Pegus purchased 1,770 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $56.49 per share, with a total value of $99,987.30. Following the acquisition, the director directly owned 1,770 shares of the company’s stock, valued at $99,987.30. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David C. Habiger bought 2,250 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $55.92 per share, with a total value of $125,820.00. Following the purchase, the director owned 13,878 shares in the company, valued at $776,057.76. The trade was a 19.35% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased a total of 9,800 shares of company stock worth $554,012 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Boston Scientific Stock Up 0.0%

NYSE:BSX opened at $44.26 on Monday. The stock has a 50-day simple moving average of $47.21 and a 200 day simple moving average of $63.84. Boston Scientific Corporation has a 52-week low of $42.20 and a 52-week high of $109.50. The company has a market cap of $65.78 billion, a PE ratio of 18.52, a PEG ratio of 0.85 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90.

Boston Scientific announced that its board has authorized a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.