Tidal Investments LLC Has $10.71 Million Stake in Boston Scientific Co. (NYSE:BSX)

Tidal Investments LLC increased its holdings in shares of Boston Scientific Co. (NYSE:BSX - Free Report) by 38.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 119,876 shares of the medical equipment provider's stock after purchasing an additional 33,369 shares during the period. Tidal Investments LLC's holdings in Boston Scientific were worth $10,707,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mechanics Bank Trust Department bought a new position in Boston Scientific during the fourth quarter worth about $415,000. Highland Capital Management LLC bought a new position in Boston Scientific during the fourth quarter worth about $4,887,000. Covenant Asset Management LLC bought a new position in Boston Scientific during the fourth quarter worth about $3,405,000. Beacon Investment Advisory Services Inc. grew its holdings in Boston Scientific by 31.7% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 19,527 shares of the medical equipment provider's stock worth $1,744,000 after purchasing an additional 4,702 shares during the period. Finally, Oak Harvest Investment Services grew its holdings in Boston Scientific by 262.5% during the fourth quarter. Oak Harvest Investment Services now owns 40,776 shares of the medical equipment provider's stock worth $3,642,000 after purchasing an additional 29,526 shares during the period. Institutional investors own 89.07% of the company's stock.

Analysts Set New Price Targets

BSX has been the subject of several research reports. 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 report on Thursday, April 24th. UBS Group boosted their price objective on Boston Scientific from $105.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Stifel Nicolaus boosted their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, February 6th. Erste Group Bank upgraded Boston Scientific to a "strong-buy" rating in a report on Thursday, May 8th. Finally, Morgan Stanley boosted their price objective on Boston Scientific from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Twenty-three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $114.87.

Boston Scientific Price Performance

BSX traded down $0.01 during trading on Friday, hitting $104.49. 5,205,948 shares of the stock traded hands, compared to its average volume of 6,393,997. Boston Scientific Co. has a twelve month low of $71.88 and a twelve month high of $107.17. The company has a market cap of $154.59 billion, a price-to-earnings ratio of 83.59, a PEG ratio of 2.79 and a beta of 0.68. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 1.02. The business has a 50 day moving average price of $99.97 and a 200 day moving average price of $97.37.

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 the consensus estimate of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The business had revenue of $4.66 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the business earned $0.56 earnings per share. The company's revenue was up 20.9% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, 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 transaction 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 $3,441,592.37. The trade was a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael F. Mahoney sold 164,443 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $102.48, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 195,830 shares of company stock worth $20,043,415 over the last three months. Corporate insiders own 0.50% of the company's stock.

About Boston Scientific

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.