ExodusPoint Capital Management LP Purchases 201,709 Shares of Boston Scientific Co. (NYSE:BSX)

ExodusPoint Capital Management LP boosted its position in Boston Scientific Co. (NYSE:BSX) by 125.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 362,484 shares of the medical equipment provider’s stock after purchasing an additional 201,709 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Boston Scientific were worth $19,607,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in BSX. Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Boston Scientific by 88,436.6% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 270,919,289 shares of the medical equipment provider’s stock valued at $14,654,024,000 after acquiring an additional 270,613,292 shares in the last quarter. Moneta Group Investment Advisors LLC increased its holdings in shares of Boston Scientific by 112,306.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock valued at $863,475,000 after acquiring an additional 18,645,058 shares in the last quarter. Norges Bank bought a new position in shares of Boston Scientific during the fourth quarter valued at $632,520,000. Bank of Montreal Can bought a new position in shares of Boston Scientific during the second quarter valued at $229,787,000. Finally, Steadfast Capital Management LP bought a new position in shares of Boston Scientific during the fourth quarter valued at $138,969,000. Institutional investors own 89.11% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $54.46 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.42 and a quick ratio of 0.90. Boston Scientific Co. has a 1 year low of $42.73 and a 1 year high of $55.38. The stock’s 50 day simple moving average is $52.11 and its two-hundred day simple moving average is $52.33. The company has a market cap of $79.78 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 2.14 and a beta of 0.77.

Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.48 billion. Boston Scientific had a return on equity of 15.46% and a net margin of 8.93%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.43 EPS. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the subject of several analyst reports. Robert W. Baird raised their price target on Boston Scientific from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Oppenheimer lifted their price objective on Boston Scientific from $58.00 to $59.00 in a report on Friday, July 28th. Raymond James lifted their price objective on Boston Scientific from $60.00 to $61.00 in a report on Friday, July 28th. UBS Group lifted their price objective on Boston Scientific from $63.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, September 21st. Finally, Barclays lifted their price objective on Boston Scientific from $59.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, September 22nd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.55.

Insider Activity at Boston Scientific

In related news, SVP Vance R. Brown sold 15,750 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $50.52, for a total transaction of $795,690.00. Following the completion of the transaction, the senior vice president now owns 28,578 shares in the company, valued at approximately $1,443,760.56. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 113,356 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $52.51, for a total value of $5,952,323.56. Following the completion of the sale, the chief executive officer now directly owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Vance R. Brown sold 15,750 shares of the company’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $50.52, for a total value of $795,690.00. Following the completion of the sale, the senior vice president now owns 28,578 shares of the company’s stock, valued at $1,443,760.56. The disclosure for this sale can be found here. Insiders sold a total of 408,996 shares of company stock worth $21,589,497 in the last quarter. 0.71% of the stock is owned by company insiders.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.