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

Quantbot Technologies LP acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 133,350 shares of the medical equipment provider’s stock, valued at approximately $10,269,000. Boston Scientific comprises about 0.5% of Quantbot Technologies LP’s investment portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sierra Summit Advisors LLC grew its position in Boston Scientific by 6.5% during the 2nd quarter. Sierra Summit Advisors LLC now owns 147,030 shares of the medical equipment provider’s stock worth $11,323,000 after acquiring an additional 9,018 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Boston Scientific by 8.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,047,661 shares of the medical equipment provider’s stock worth $388,724,000 after purchasing an additional 411,628 shares during the last quarter. Financial Perspectives Inc raised its holdings in Boston Scientific by 1.5% in the 2nd quarter. Financial Perspectives Inc now owns 148,333 shares of the medical equipment provider’s stock valued at $11,423,000 after buying an additional 2,203 shares during the last quarter. Rathbones Group PLC grew its holdings in Boston Scientific by 2.3% during the 2nd quarter. Rathbones Group PLC now owns 2,407,186 shares of the medical equipment provider’s stock worth $185,377,000 after acquiring an additional 53,770 shares during the last quarter. Finally, Plato Investment Management Ltd raised its stake in shares of Boston Scientific by 8.0% during the second quarter. Plato Investment Management Ltd now owns 18,751 shares of the medical equipment provider’s stock valued at $1,444,000 after acquiring an additional 1,391 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BSX shares. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Boston Scientific in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Barclays increased their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.38.

Boston Scientific Stock Performance

BSX opened at $83.31 on Monday. Boston Scientific Co. has a 1-year low of $48.35 and a 1-year high of $84.11. The company has a market cap of $122.68 billion, a price-to-earnings ratio of 70.01, a PEG ratio of 2.75 and a beta of 0.79. The company’s fifty day moving average price is $78.08 and its two-hundred day moving average price is $74.16. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

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

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 20,949 shares of company stock worth $1,627,877 over the last 90 days. 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.