13,080 Shares in Boston Scientific Corporation $BSX Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new stake in shares of Boston Scientific Corporation (NYSE:BSX) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,080 shares of the medical equipment provider’s stock, valued at approximately $821,000.

Several other institutional investors have also recently made changes to their positions in the stock. Outfitters Financial LLC grew its position in shares of Boston Scientific by 0.5% in the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after purchasing an additional 110 shares in the last quarter. Natural Investments LLC lifted its holdings in Boston Scientific by 2.9% during the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 112 shares in the last quarter. Patton Fund Management Inc. lifted its holdings in Boston Scientific by 5.5% during the 4th quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider’s stock worth $217,000 after purchasing an additional 118 shares in the last quarter. Bridgewater Advisors Inc. boosted its stake in Boston Scientific by 1.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 10,051 shares of the medical equipment provider’s stock worth $921,000 after purchasing an additional 123 shares during the period. Finally, Earned Wealth Advisors LLC grew its holdings in Boston Scientific by 5.2% during the 4th quarter. Earned Wealth Advisors LLC now owns 2,647 shares of the medical equipment provider’s stock valued at $252,000 after buying an additional 131 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the purchase, the director directly owned 13,878 shares in the company, valued at approximately $776,057.76. This represents a 19.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig purchased 3,580 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the acquisition, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. The trade was a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 9,800 shares of company stock valued at $554,012 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Boston Scientific Stock Up 3.0%

BSX stock opened at $45.56 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The company’s 50 day moving average is $47.00 and its 200 day moving average is $63.47. The stock has a market cap of $67.72 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50.

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

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent analyst reports. Needham & Company LLC lowered their price target on shares of Boston Scientific from $77.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Leerink Partners reduced their price objective on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, May 28th. Zacks Research lowered shares of Boston Scientific from a “hold” rating to a “strong sell” rating in a report on Friday, June 5th. Mizuho cut their price target on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Finally, Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $79.64.

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.