Two Sigma Investments LP Cuts Stock Position in Boston Scientific Co. (NYSE:BSX)

Two Sigma Investments LP trimmed its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 35.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 741,847 shares of the medical equipment provider's stock after selling 411,277 shares during the period. Two Sigma Investments LP owned about 0.05% of Boston Scientific worth $66,262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. TFC Financial Management Inc. grew 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 worth $25,000 after purchasing an additional 210 shares in the last quarter. Colonial Trust Co SC grew its position in shares of Boston Scientific by 1,625.0% during the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider's stock worth $25,000 after buying an additional 260 shares in the last quarter. Valley National Advisers Inc. increased its stake in shares of Boston Scientific by 262.4% during 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. Fairway Wealth LLC bought a new stake in shares of Boston Scientific in the fourth quarter valued at about $36,000. Finally, Global Trust Asset Management LLC raised its holdings in shares of Boston Scientific by 64.5% in the fourth quarter. Global Trust Asset Management LLC now owns 436 shares of the medical equipment provider's stock valued at $39,000 after acquiring an additional 171 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Performance

Shares of NYSE:BSX traded down $0.22 during trading on Thursday, hitting $104.42. The stock had a trading volume of 7,715,687 shares, compared to its average volume of 6,389,067. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 12-month low of $71.88 and a 12-month high of $107.17. The stock has a market capitalization of $154.48 billion, a price-to-earnings ratio of 83.54, a price-to-earnings-growth ratio of 2.79 and a beta of 0.68. The stock has a 50-day simple moving average of $99.76 and a two-hundred day simple moving average of $97.02.

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

Insider Activity at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,314 shares of the business's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total value of $1,767,066.84. Following the completion of the transaction, the executive vice president now directly owns 22,235 shares in the company, valued at $2,269,304.10. The trade was a 43.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the sale, the executive vice president now directly owns 18,705 shares in the company, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,830 shares of company stock worth $20,043,415 over the last three months. Company insiders own 0.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BSX. Argus set a $130.00 target price on shares of Boston Scientific in a research report on Tuesday, February 18th. Piper Sandler boosted their price objective on shares of Boston Scientific from $95.00 to $115.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Morgan Stanley increased their target price on Boston Scientific from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Evercore ISI lifted their price target on Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Finally, Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research note on Thursday, May 8th. Twenty-three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $114.87.

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.