Voleon Capital Management LP Invests $5 Million in Boston Scientific Co. (NYSE:BSX)

Voleon Capital Management LP acquired a new stake in Boston Scientific Co. (NYSE:BSX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 55,992 shares of the medical equipment provider's stock, valued at approximately $5,001,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Passumpsic Savings Bank purchased a new position in Boston Scientific in the 3rd quarter worth approximately $3,015,000. World Investment Advisors LLC increased its stake in shares of Boston Scientific by 50.9% in the third quarter. World Investment Advisors LLC now owns 11,684 shares of the medical equipment provider's stock worth $979,000 after buying an additional 3,939 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Boston Scientific during the 3rd quarter valued at $1,175,000. Tidal Investments LLC boosted its position in Boston Scientific by 8.8% during the 3rd quarter. Tidal Investments LLC now owns 86,507 shares of the medical equipment provider's stock valued at $7,249,000 after buying an additional 6,990 shares during the period. Finally, Synovus Financial Corp grew its holdings in Boston Scientific by 7.1% in the 3rd quarter. Synovus Financial Corp now owns 17,518 shares of the medical equipment provider's stock worth $1,468,000 after acquiring an additional 1,167 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday, February 6th. Raymond James lifted their price objective on Boston Scientific from $119.00 to $122.00 and gave the stock a "strong-buy" rating in a research report on Thursday, February 6th. Barclays raised their price target on Boston Scientific from $118.00 to $125.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Evercore ISI boosted their price objective on shares of Boston Scientific from $110.00 to $112.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Finally, Royal Bank of Canada raised their target price on shares of Boston Scientific from $116.00 to $120.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Twenty-three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Boston Scientific presently has an average rating of "Buy" and an average price target of $114.52.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the transaction, the executive vice president now owns 5,502 shares of the company's stock, valued at approximately $560,103.60. This represents a 75.88 % 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, CFO Daniel J. Brennan sold 67,333 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $105.24, for a total transaction of $7,086,124.92. Following the completion of the transaction, the chief financial officer now directly owns 225,808 shares in the company, valued at approximately $23,764,033.92. The trade was a 22.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 138,009 shares of company stock valued at $14,407,381 over the last ninety days. Insiders own 0.50% of the company's stock.

Boston Scientific Stock Up 1.7 %

Shares of NYSE:BSX traded up $1.75 on Friday, hitting $104.94. 7,363,218 shares of the company traded hands, compared to its average volume of 6,346,832. The company has a market cap of $155.21 billion, a PE ratio of 83.95, a PEG ratio of 2.79 and a beta of 0.68. The stock has a 50 day simple moving average of $98.59 and a 200-day simple moving average of $95.37. Boston Scientific Co. has a 52 week low of $71.82 and a 52 week high of $107.17. 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 (NYSE:BSX - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $4.57 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The business's revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, research analysts expect that Boston Scientific Co. will post 2.85 earnings per share for the current 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.