Boston Scientific Corporation $BSX Shares Acquired by Entropy Technologies LP

Entropy Technologies LP boosted its position in shares of Boston Scientific Corporation (NYSE:BSX) by 82.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 282,967 shares of the medical equipment provider’s stock after purchasing an additional 127,941 shares during the period. Boston Scientific comprises about 0.8% of Entropy Technologies LP’s investment portfolio, making the stock its 2nd biggest position. Entropy Technologies LP’s holdings in Boston Scientific were worth $17,756,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in BSX. Sustainable Insight Capital Management LLC acquired a new position in shares of Boston Scientific in the 1st quarter worth approximately $209,000. St. Louis Trust Co grew its position in Boston Scientific by 14.3% during the 1st quarter. St. Louis Trust Co now owns 10,214 shares of the medical equipment provider’s stock worth $641,000 after acquiring an additional 1,279 shares during the last quarter. Boreal Capital Management LLC increased its holdings in Boston Scientific by 155.3% during the 1st quarter. Boreal Capital Management LLC now owns 646 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 393 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Boston Scientific by 36.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 789,092 shares of the medical equipment provider’s stock valued at $49,516,000 after purchasing an additional 210,489 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Boston Scientific by 32.3% in the 1st quarter. Renaissance Technologies LLC now owns 3,152,005 shares of the medical equipment provider’s stock valued at $197,788,000 after purchasing an additional 769,300 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Boston Scientific news, Director Cheryl Pegus bought 1,770 shares of Boston Scientific stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $56.49 per share, with a total value of $99,987.30. Following the purchase, the director owned 1,770 shares of the company’s stock, valued at $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David C. Habiger purchased 2,250 shares of the stock in a transaction dated Wednesday, May 20th. The shares were acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the transaction, the director owned 13,878 shares in the company, valued at $776,057.76. This trade represents a 19.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought a total of 9,800 shares of company stock worth $554,012 over the last three months. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. Wall Street Zen upgraded Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho cut their price target on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Citigroup reduced their price target on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. The Goldman Sachs Group set a $71.00 price objective on shares of Boston Scientific in a report on Thursday, May 28th. Finally, Jefferies Financial Group lowered their price objective on shares of Boston Scientific from $100.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Boston Scientific Stock Up 1.6%

Shares of BSX opened at $44.26 on Friday. The business’s fifty day moving average price is $47.21 and its two-hundred day moving average price is $64.06. The firm has a market capitalization of $65.78 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.84 and a beta of 0.58. Boston Scientific Corporation has a 52 week low of $42.20 and a 52 week high of $109.50. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.19 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 11.6% on a year-over-year basis. On average, analysts predict that Boston Scientific Corporation will post 3.35 earnings per share for the current year.

Boston Scientific declared that its Board of Directors has initiated a share repurchase plan on Monday, May 18th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.