Armistice Capital LLC Takes Position in Boston Scientific Co. (NYSE:BSX)

Armistice Capital LLC bought a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 23,300 shares of the medical equipment provider’s stock, valued at approximately $1,794,000.

Several other institutional investors have also bought and sold shares of BSX. Alpha DNA Investment Management LLC purchased a new position in Boston Scientific during the 2nd quarter worth $817,000. Unisphere Establishment lifted its position in shares of Boston Scientific by 4.8% during the second quarter. Unisphere Establishment now owns 2,437,000 shares of the medical equipment provider’s stock valued at $187,673,000 after purchasing an additional 111,500 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Boston Scientific during the second quarter worth about $4,603,000. Toronto Dominion Bank grew its position in Boston Scientific by 23.6% in the 2nd quarter. Toronto Dominion Bank now owns 928,098 shares of the medical equipment provider’s stock worth $71,473,000 after purchasing an additional 177,006 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI increased its stake in Boston Scientific by 57.9% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 2,047,710 shares of the medical equipment provider’s stock valued at $157,694,000 after buying an additional 750,811 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 0.5 %

BSX opened at $83.08 on Friday. The firm has a market capitalization of $121.89 billion, a P/E ratio of 69.82, a price-to-earnings-growth ratio of 2.78 and a beta of 0.79. Boston Scientific Co. has a one year low of $48.35 and a one year high of $84.89. The company has a fifty day moving average price of $79.06 and a 200-day moving average price of $75.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the business earned $0.53 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. Equities research analysts expect that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BSX shares. The Goldman Sachs Group started coverage on Boston Scientific in a report on Thursday, May 30th. They issued a “buy” rating and a $90.00 target price for the company. Evercore ISI upped their price objective on Boston Scientific from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, July 2nd. Barclays lifted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $86.65.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the sale, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 20,949 shares of company stock valued at $1,627,877. 0.50% of the stock is owned by corporate insiders.

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.