Exane Asset Management Acquires Shares of 79,463 Boston Scientific Corporation $BSX

Exane Asset Management acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 79,463 shares of the medical equipment provider’s stock, valued at approximately $7,758,000. Boston Scientific comprises about 2.8% of Exane Asset Management’s holdings, making the stock its 9th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. State Street Corp raised its position in Boston Scientific by 1.1% in the second quarter. State Street Corp now owns 65,191,864 shares of the medical equipment provider’s stock worth $7,002,258,000 after acquiring an additional 713,379 shares in the last quarter. Synergy Asset Management LLC grew its stake in shares of Boston Scientific by 3,493.0% during the 3rd quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock worth $48,297,000 after purchasing an additional 479,593 shares during the period. Gladstone Institutional Advisory LLC increased its holdings in shares of Boston Scientific by 39.5% in the 3rd quarter. Gladstone Institutional Advisory LLC now owns 51,884 shares of the medical equipment provider’s stock valued at $5,065,000 after purchasing an additional 14,700 shares in the last quarter. Channel Wealth LLC increased its holdings in shares of Boston Scientific by 70.8% in the 3rd quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock valued at $2,790,000 after purchasing an additional 11,847 shares in the last quarter. Finally, Bank of Nova Scotia boosted its holdings in Boston Scientific by 106.4% during the second quarter. Bank of Nova Scotia now owns 3,025,519 shares of the medical equipment provider’s stock worth $324,971,000 after buying an additional 1,559,605 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Erste Group Bank cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Evercore ISI set a $112.00 price objective on Boston Scientific in a research note on Monday, January 5th. Wall Street Zen raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Robert W. Baird upped their target price on Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, Truist Financial cut their price target on Boston Scientific from $130.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $123.89.

Boston Scientific Stock Up 0.1%

Shares of NYSE:BSX opened at $93.63 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.51 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $138.81 billion, a P/E ratio of 50.07, a P/E/G ratio of 1.70 and a beta of 0.67. Boston Scientific Corporation has a 52-week low of $85.98 and a 52-week high of $109.50. The stock’s fifty day simple moving average is $95.42 and its 200-day simple moving average is $99.69.

Insider Buying and Selling at Boston Scientific

In related news, Director Ellen M. Zane sold 12,891 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the transaction, the director owned 24,134 shares of the company’s stock, valued at approximately $2,371,889.52. This represents a 34.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $101.55, for a total transaction of $1,758,135.15. Following the completion of the sale, the executive vice president directly owned 23,600 shares of the company’s stock, valued at $2,396,580. The trade was a 42.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 80,204 shares of company stock worth $7,998,563. Corporate insiders own 0.50% of the company’s stock.

Boston Scientific Company Profile

Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.

Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.