Crestline Management LP Invests $2.97 Million in Boston Scientific Co. (NYSE:BSX)

Crestline Management LP purchased a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,292 shares of the medical equipment provider's stock, valued at approximately $2,974,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Boston Scientific by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 132,890,784 shares of the medical equipment provider's stock valued at $11,869,805,000 after buying an additional 1,600,062 shares in the last quarter. Wellington Management Group LLP raised its holdings in Boston Scientific by 10.2% in 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 acquiring an additional 3,344,571 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Boston Scientific by 3.5% during the 4th 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 acquiring an additional 1,041,329 shares during the period. Capital World Investors grew its holdings in shares of Boston Scientific by 28.7% during the 4th quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock worth $2,492,041,000 after purchasing an additional 6,216,199 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Boston Scientific in the fourth quarter worth $1,762,522,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Stock Down 0.4 %

Shares of BSX traded down $0.42 during trading hours on Friday, hitting $102.87. The stock had a trading volume of 3,609,449 shares, compared to its average volume of 6,343,075. Boston Scientific Co. has a 1-year low of $71.88 and a 1-year high of $107.17. The firm has a market capitalization of $152.19 billion, a P/E ratio of 82.30, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The firm has a 50 day simple moving average of $98.68 and a 200-day simple moving average of $95.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. The firm had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. During the same quarter last year, the firm posted $0.56 earnings per share. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on BSX shares. Robert W. Baird upped their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Wells Fargo & Company increased their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Citigroup boosted their price objective on shares of Boston Scientific from $107.00 to $122.00 and gave the company a "buy" rating in a research report on Thursday, February 6th. Truist Financial upped their target price on Boston Scientific from $113.00 to $117.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley lifted their target price on Boston Scientific from $100.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Twenty-three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boston Scientific has a consensus rating of "Buy" and a consensus price target of $114.52.

Insiders Place Their Bets

In related news, SVP Vance R. Brown sold 4,826 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the transaction, the senior vice president now owns 36,193 shares of the company's stock, valued at approximately $3,441,592.37. This trade represents a 11.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael F. Mahoney sold 164,443 shares of Boston Scientific stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the transaction, the chief executive officer now owns 1,535,706 shares of the company's stock, valued at $157,379,150.88. This trade represents a 9.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 300,497 shares of company stock worth $31,056,815. Insiders own 0.50% of the company's stock.

Boston Scientific Company 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.