Aigen Investment Management LP Acquires New Holdings in Boston Scientific Corporation (NYSE:BSX)

Key Points

• Aigen Investment Management LP made a new investment of approximately $6.54 million in Boston Scientific Corporation, acquiring 64,812 shares, which constitutes 1.1% of its investment portfolio.
• Boston Scientific's recent quarterly earnings surpassed analysts' expectations, reporting $0.75 EPS and revenue of $5.06 billion, up 22.8% year-over-year.
• Several institutional investors are actively adjusting their holdings, with movements including a 298.3% increase in Entropy Technologies LP's stake during the first quarter.

Aigen Investment Management LP acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 64,812 shares of the medical equipment provider's stock, valued at approximately $6,538,000. Boston Scientific comprises about 1.1% of Aigen Investment Management LP's portfolio, making the stock its 2nd biggest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cooper Financial Group acquired a new stake in shares of Boston Scientific in the first quarter valued at approximately $275,000. Strengthening Families & Communities LLC lifted its position in shares of Boston Scientific by 76.6% in the first quarter. Strengthening Families & Communities LLC now owns 1,466 shares of the medical equipment provider's stock worth $148,000 after purchasing an additional 636 shares in the last quarter. Entropy Technologies LP lifted its position in shares of Boston Scientific by 298.3% in the first quarter. Entropy Technologies LP now owns 9,562 shares of the medical equipment provider's stock worth $965,000 after purchasing an additional 7,161 shares in the last quarter. Invesco Ltd. lifted its position in shares of Boston Scientific by 5.3% in the first quarter. Invesco Ltd. now owns 16,624,940 shares of the medical equipment provider's stock worth $1,677,124,000 after purchasing an additional 834,274 shares in the last quarter. Finally, Berger Financial Group Inc lifted its position in shares of Boston Scientific by 11.0% in the first quarter. Berger Financial Group Inc now owns 11,301 shares of the medical equipment provider's stock worth $1,140,000 after purchasing an additional 1,123 shares in the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of research reports. Evercore ISI boosted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Barclays boosted their target price on shares of Boston Scientific from $125.00 to $133.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their target price on shares of Boston Scientific from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada restated an "outperform" rating on shares of Boston Scientific in a report on Thursday, July 24th. Finally, Truist Financial boosted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Boston Scientific currently has an average rating of "Buy" and a consensus target price of $117.50.

Insider Transactions at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 56,372 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $102.88, for a total value of $5,799,551.36. Following the completion of the transaction, the executive vice president owned 178,342 shares of the company's stock, valued at approximately $18,347,824.96. This represents a 24.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $106.03, for a total transaction of $424,120.00. Following the completion of the transaction, the director directly owned 18,479 shares of the company's stock, valued at $1,959,328.37. This trade represents a 17.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 345,029 shares of company stock valued at $35,976,603. 0.50% of the stock is owned by company insiders.

Boston Scientific Price Performance

BSX traded down $0.21 on Tuesday, hitting $102.54. 6,446,739 shares of the stock were exchanged, compared to its average volume of 7,289,843. The firm has a market capitalization of $151.94 billion, a price-to-earnings ratio of 61.04, a PEG ratio of 2.47 and a beta of 0.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 0.82. Boston Scientific Corporation has a 12 month low of $75.53 and a 12 month high of $108.94. The business has a 50-day moving average of $103.51 and a two-hundred day moving average of $102.08.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.72 by $0.03. The firm had revenue of $5.06 billion during the quarter, compared to analysts' expectations of $4.89 billion. Boston Scientific had a net margin of 13.55% and a return on equity of 19.21%. The business's revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. Sell-side analysts forecast that Boston Scientific Corporation will post 2.85 EPS for the current fiscal year.

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.