Atika Capital Management LLC Makes New $7.61 Million Investment in Boston Scientific Co. (NYSE:BSX)

Atika Capital Management LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 85,200 shares of the medical equipment provider’s stock, valued at approximately $7,610,000.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Boston Scientific by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider’s stock valued at $11,869,805,000 after purchasing an additional 1,600,062 shares during the period. Wellington Management Group LLP grew its holdings in Boston Scientific by 10.2% during the 4th quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider’s stock valued at $3,230,293,000 after buying an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Boston Scientific by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 30,626,170 shares of the medical equipment provider’s stock valued at $2,729,371,000 after buying an additional 1,041,329 shares during the last quarter. Norges Bank purchased a new position in shares of Boston Scientific in the fourth quarter worth $1,762,522,000. Finally, Franklin Resources Inc. boosted its position in shares of Boston Scientific by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 16,539,488 shares of the medical equipment provider’s stock worth $1,477,307,000 after acquiring an additional 832,386 shares during the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Trading Down 8.9 %

NYSE BSX opened at $89.78 on Friday. Boston Scientific Co. has a 12 month low of $66.80 and a 12 month high of $107.17. The company’s 50-day moving average price is $101.90 and its 200-day moving average price is $93.63. The stock has a market cap of $132.78 billion, a PE ratio of 71.82, a PEG ratio of 2.79 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41.

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 analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. Equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analysts Set New Price Targets

BSX has been the topic of a number of research reports. UBS Group lifted their price target on shares of Boston Scientific from $105.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 7th. Citigroup boosted their target price on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Piper Sandler raised their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Finally, Wells Fargo & Company raised their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $108.91.

Insider Buying and Selling at Boston Scientific

In other news, EVP Arthur C. Butcher sold 17,313 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $560,103.60. The trade was a 75.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John Bradley Sorenson sold 6,528 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now owns 26,449 shares in the company, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,183 shares of company stock valued at $13,948,476 in the last ninety days. Corporate insiders own 0.50% of the company’s stock.

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.