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

Castle Hook Partners LP purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) in the third quarter, Holdings Channel.com reports. The firm purchased 308,699 shares of the medical equipment provider’s stock, valued at approximately $25,869,000. Boston Scientific makes up about 0.5% of Castle Hook Partners LP’s investment portfolio, making the stock its 28th largest position.

Other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. increased its position in shares of Boston Scientific by 45.6% during the first quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock worth $517,000 after purchasing an additional 2,361 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Boston Scientific during the first quarter worth about $3,021,000. B. Riley Wealth Advisors Inc. increased its position in shares of Boston Scientific by 52.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 16,270 shares of the medical equipment provider’s stock worth $1,114,000 after purchasing an additional 5,564 shares in the last quarter. New Covenant Trust Company N.A. acquired a new stake in shares of Boston Scientific during the first quarter worth about $37,000. Finally, Swedbank AB acquired a new stake in shares of Boston Scientific during the first quarter worth about $100,113,000. 89.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In related news, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was 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 owns 978 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,894,270 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX opened at $90.76 on Thursday. The stock’s 50 day moving average is $86.43 and its two-hundred day moving average is $80.51. The firm has a market capitalization of $133.76 billion, a PE ratio of 75.01, a P/E/G ratio of 2.63 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93.

Boston Scientific (NYSE:BSX) last announced 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 for 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 quarter in the previous year, the company earned $0.50 EPS. Research analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Wall Street Analyst Weigh In

BSX has been the topic of a number of research analyst reports. TD Cowen lifted their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Citigroup lifted their target price on Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group boosted their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Wells Fargo & Company boosted their price target on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

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.