Castle Hook Partners LP Makes New $25.87 Million Investment in Boston Scientific Co. (NYSE:BSX)

Castle Hook Partners LP bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 308,699 shares of the medical equipment provider’s stock, valued at approximately $25,869,000. Boston Scientific comprises about 0.5% of Castle Hook Partners LP’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds have also made changes to their positions in BSX. Triad Wealth Partners LLC acquired a new position in shares of Boston Scientific during the second quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new position in shares of Boston Scientific during the third quarter valued at approximately $28,000. Andra AP fonden acquired a new position in shares of Boston Scientific during the second quarter valued at approximately $29,000. Lynx Investment Advisory acquired a new position in shares of Boston Scientific during the second quarter valued at approximately $30,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in shares of Boston Scientific during the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Morgan Stanley increased their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Bank of America increased their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial increased their price target on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. Canaccord Genuity Group increased their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Raymond James increased their price target on Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Trading Up 0.6 %

BSX opened at $90.76 on Thursday. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The business has a fifty day simple moving average of $86.43 and a 200-day simple moving average of $80.51. The firm has a market cap of $133.76 billion, a P/E ratio of 75.01, a P/E/G ratio of 2.63 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. On average, equities analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total value of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Arthur C. Butcher sold 14,010 shares of Boston Scientific stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This trade represents a 93.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 328,157 shares of company stock worth $27,894,270. Company insiders own 0.50% of the company’s stock.

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.