Novem Group Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

Novem Group purchased a new position in Boston Scientific Co. (NYSE:BSX - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,468 shares of the medical equipment provider's stock, valued at approximately $220,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew 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 last quarter. Wellington Management Group LLP lifted its holdings in shares of Boston Scientific by 10.2% during the fourth quarter. Wellington Management Group LLP now owns 36,165,399 shares of the medical equipment provider's stock worth $3,230,293,000 after purchasing an additional 3,344,571 shares during the period. Geode Capital Management LLC lifted its holdings 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 worth $2,729,371,000 after purchasing an additional 1,041,329 shares during the period. Capital World Investors boosted its position in Boston Scientific by 28.7% in the fourth quarter. Capital World Investors now owns 27,899,903 shares of the medical equipment provider's stock valued at $2,492,041,000 after buying an additional 6,216,199 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Boston Scientific by 2.5% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,312,967 shares of the medical equipment provider's stock worth $1,992,994,000 after buying an additional 554,388 shares during the period. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Trading Up 1.5%

Boston Scientific stock traded up $1.59 during midday trading on Tuesday, hitting $106.09. 6,909,780 shares of the stock were exchanged, compared to its average volume of 6,396,061. Boston Scientific Co. has a fifty-two week low of $71.88 and a fifty-two week high of $107.17. The stock has a market capitalization of $156.95 billion, a price-to-earnings ratio of 84.87, a PEG ratio of 2.79 and a beta of 0.68. The stock's 50-day simple moving average is $100.05 and its 200 day simple moving average is $97.55. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion during the quarter, compared to analysts' expectations of $4.57 billion. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business's revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the business earned $0.56 earnings per share. On average, equities analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Boston Scientific from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, February 6th. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a research report on Thursday, May 8th. Argus set a $130.00 price objective on Boston Scientific in a research report on Tuesday, February 18th. Robert W. Baird raised their price objective on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Finally, Wells Fargo & Company boosted their target price on shares of Boston Scientific from $100.00 to $118.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Twenty-three equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Boston Scientific currently has a consensus rating of "Buy" and an average price target of $114.87.

Insiders Place Their Bets

In related news, EVP John Bradley Sorenson sold 4,572 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president now owns 18,705 shares of the company's stock, valued at $1,955,420.70. This trade represents a 19.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Vance R. Brown sold 4,826 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total value of $458,904.34. Following the completion of the transaction, the senior vice president now directly owns 36,193 shares in the company, valued at approximately $3,441,592.37. The trade was a 11.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,155 shares of company stock worth $19,556,047 in the last 90 days. Corporate 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.