Tidal Investments LLC Buys 18,366 Shares of Boston Scientific Co. (NYSE:BSX)

Tidal Investments LLC grew its position in shares of Boston Scientific Co. (NYSE:BSX) by 33.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,589 shares of the medical equipment provider’s stock after acquiring an additional 18,366 shares during the quarter. Tidal Investments LLC’s holdings in Boston Scientific were worth $4,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in BSX. Vanguard Group Inc. increased its position in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares during the last quarter. Primecap Management Co. CA raised its position in Boston Scientific by 1.5% in the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock worth $2,191,326,000 after acquiring an additional 550,490 shares during the period. Norges Bank purchased a new position in Boston Scientific in the fourth quarter valued at about $930,626,000. Capital World Investors grew its position in shares of Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after acquiring an additional 6,588,256 shares during the period. Finally, Putnam Investments LLC grew its position in shares of Boston Scientific by 110.5% during the 4th quarter. Putnam Investments LLC now owns 13,067,570 shares of the medical equipment provider’s stock valued at $755,436,000 after acquiring an additional 6,859,280 shares during the period. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director Charles J. Dockendorff sold 3,946 shares of Boston Scientific stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total value of $286,874.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $77.30, for a total value of $539,785.90. Following the completion of the sale, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles J. Dockendorff sold 3,946 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $72.70, for a total transaction of $286,874.20. The disclosure for this sale can be found here. Insiders have sold 44,854 shares of company stock valued at $3,366,983 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock traded up $0.42 during trading hours on Thursday, hitting $74.30. 1,545,902 shares of the company’s stock were exchanged, compared to its average volume of 6,308,710. The company has a market capitalization of $109.01 billion, a PE ratio of 62.67, a PEG ratio of 2.45 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $79.43. The business’s 50 day simple moving average is $76.43 and its 200-day simple moving average is $70.71.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.80%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the company earned $0.53 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BSX. Royal Bank of Canada reaffirmed an “outperform” rating and set a $85.00 price target on shares of Boston Scientific in a research report on Thursday, July 25th. Wells Fargo & Company raised their price target on Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Evercore ISI boosted their price objective on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. raised their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Citigroup upped their price target on Boston Scientific from $87.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.76.

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.