Magnetar Financial LLC Sells 574,219 Shares of Boston Scientific Co. (NYSE:BSX)

Magnetar Financial LLC decreased its position in Boston Scientific Co. (NYSE:BSX) by 65.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 297,145 shares of the medical equipment provider’s stock after selling 574,219 shares during the period. Magnetar Financial LLC’s holdings in Boston Scientific were worth $26,541,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. TFC Financial Management Inc. lifted its stake in Boston Scientific by 308.8% in the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 210 shares during the period. Dunhill Financial LLC lifted its stake in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares during the period. Global Wealth Strategies & Associates lifted its stake in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC acquired a new position in Boston Scientific in the fourth quarter valued at about $29,000. Finally, Valley National Advisers Inc. lifted its stake in Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 286 shares during the period. Institutional investors own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research note on Friday, January 10th. Citigroup increased their target price on Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. increased their target price on Boston Scientific from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. TD Cowen raised their price target on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, December 12th. Finally, Stifel Nicolaus raised their price target on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.91.

Boston Scientific Stock Up 1.6 %

BSX stock opened at $100.77 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. The business has a 50 day moving average price of $101.45 and a two-hundred day moving average price of $92.15. The company has a market cap of $148.72 billion, a price-to-earnings ratio of 80.62, a P/E/G ratio of 2.79 and a beta of 0.77. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 EPS for the quarter, topping the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In related news, EVP John Bradley Sorenson sold 4,119 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $90.02, for a total value of $370,792.38. Following the completion of the sale, the executive vice president now directly owns 35,319 shares in the company, valued at $3,179,416.38. The trade was a 10.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the completion of the sale, the executive vice president now owns 5,502 shares of the company’s stock, valued at $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% 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 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.