Clear Harbor Asset Management LLC Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

Clear Harbor Asset Management LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,809 shares of the medical equipment provider’s stock, valued at approximately $251,000.

A number of other institutional investors have also added to or reduced their stakes in the business. State Street Corp increased its position in shares of Boston Scientific by 2.3% in the third quarter. State Street Corp now owns 62,846,328 shares of the medical equipment provider’s stock worth $5,266,522,000 after purchasing an additional 1,389,172 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Boston Scientific by 2.2% in the 3rd quarter. Wellington Management Group LLP now owns 32,820,828 shares of the medical equipment provider’s stock worth $2,750,385,000 after buying an additional 718,515 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Boston Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 29,584,841 shares of the medical equipment provider’s stock valued at $2,469,607,000 after buying an additional 480,729 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Boston Scientific by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock worth $1,072,195,000 after acquiring an additional 360,793 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Boston Scientific by 0.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,018,377 shares of the medical equipment provider’s stock worth $671,940,000 after acquiring an additional 64,720 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America lifted their price target on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Truist Financial upped their target price on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Citigroup lifted their price target on shares of Boston Scientific from $98.00 to $107.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. Royal Bank of Canada upped their price objective on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.26.

Insider Buying and Selling

In other news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 978 shares of the company’s stock, valued at $87,306.06. This represents a 93.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now directly owns 39,398 shares of the company’s stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,989 shares of company stock valued at $2,702,261 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific Price Performance

BSX stock opened at $100.29 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. Boston Scientific Co. has a 1 year low of $59.85 and a 1 year high of $101.65. The firm has a 50-day moving average of $91.45 and a 200 day moving average of $84.93. The company has a market cap of $147.81 billion, a P/E ratio of 82.88, a PEG ratio of 2.59 and a beta of 0.80.

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

Boston Scientific 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.