Magnetar Financial LLC Sells 574,219 Shares of Boston Scientific Co. (NYSE:BSX)

Magnetar Financial LLC reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 65.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 297,145 shares of the medical equipment provider’s stock after selling 574,219 shares during the quarter. Magnetar Financial LLC’s holdings in Boston Scientific were worth $26,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. OneDigital Investment Advisors LLC raised its position in Boston Scientific by 3.2% in the third quarter. OneDigital Investment Advisors LLC now owns 10,177 shares of the medical equipment provider’s stock valued at $853,000 after purchasing an additional 311 shares during the last quarter. Empowered Funds LLC raised its position in Boston Scientific by 7.9% in the third quarter. Empowered Funds LLC now owns 23,413 shares of the medical equipment provider’s stock valued at $1,962,000 after purchasing an additional 1,715 shares during the last quarter. Thrivent Financial for Lutherans raised its position in Boston Scientific by 9.8% in the third quarter. Thrivent Financial for Lutherans now owns 366,807 shares of the medical equipment provider’s stock valued at $30,740,000 after purchasing an additional 32,844 shares during the last quarter. Quest Partners LLC raised its position in Boston Scientific by 10.3% in the third quarter. Quest Partners LLC now owns 17,786 shares of the medical equipment provider’s stock valued at $1,490,000 after purchasing an additional 1,668 shares during the last quarter. Finally, Caprock Group LLC raised its position in Boston Scientific by 8.6% in the third quarter. Caprock Group LLC now owns 46,512 shares of the medical equipment provider’s stock valued at $3,898,000 after purchasing an additional 3,686 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $105.48, for a total value of $1,265,760.00. Following the transaction, the director now owns 24,398 shares in the company, valued at $2,573,501.04. This trade represents a 32.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $106.31, for a total value of $127,678.31. Following the completion of the transaction, the executive vice president now owns 25,443 shares in the company, valued at $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,302 shares of company stock valued at $14,319,269. Company insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 1.6 %

Shares of Boston Scientific stock opened at $100.77 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08. Boston Scientific Co. has a 52 week low of $66.80 and a 52 week high of $107.17. The stock has a 50 day moving average price of $101.45 and a two-hundred day moving average price of $92.15. The stock has a market capitalization of $148.72 billion, a PE ratio of 80.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on BSX. Piper Sandler increased their target price on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Argus set a $130.00 price target on Boston Scientific in a research note on Tuesday, February 18th. Royal Bank of Canada increased their price target on Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley increased their price target on Boston Scientific from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Canaccord Genuity Group increased their price target on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.91.

About Boston Scientific

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.