Algebris UK Ltd. Invests $1.77 Million in Boston Scientific Corporation $BSX

Algebris UK Ltd. acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 18,118 shares of the medical equipment provider’s stock, valued at approximately $1,768,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in Boston Scientific by 1.1% during 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 during the last quarter. Synergy Asset Management LLC increased its position in shares of Boston Scientific by 3,493.0% in the third quarter. Synergy Asset Management LLC now owns 493,323 shares of the medical equipment provider’s stock worth $48,297,000 after acquiring an additional 479,593 shares in the last quarter. Gladstone Institutional Advisory LLC raised its position in Boston Scientific by 39.5% in the third 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 during the period. Channel Wealth LLC lifted its position in shares of Boston Scientific by 70.8% during the third quarter. Channel Wealth LLC now owns 28,577 shares of the medical equipment provider’s stock worth $2,790,000 after purchasing an additional 11,847 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in Boston Scientific by 106.4% in the 2nd quarter. Bank of Nova Scotia now owns 3,025,519 shares of the medical equipment provider’s stock valued at $324,971,000 after buying an additional 1,559,605 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

BSX has been the topic of several research reports. The Goldman Sachs Group restated a “buy” rating and set a $112.00 price objective on shares of Boston Scientific in a research note on Friday, January 9th. Wells Fargo & Company increased their price target on Boston Scientific from $124.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Evercore ISI set a $112.00 target price on shares of Boston Scientific in a research note on Monday, January 5th. Wall Street Zen upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, Leerink Partners increased their price target on shares of Boston Scientific from $127.00 to $128.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.89.

Insiders Place Their Bets

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $101.55, for a total value of $1,758,135.15. Following the transaction, the executive vice president directly owned 23,600 shares of the company’s stock, valued at approximately $2,396,580. This trade represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen M. Zane sold 12,891 shares of Boston Scientific stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $98.28, for a total transaction of $1,266,927.48. Following the transaction, the director directly owned 24,134 shares in the company, valued at $2,371,889.52. The trade was a 34.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 83,105 shares of company stock valued at $8,295,161. 0.50% of the stock is currently owned by insiders.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $92.56 on Monday. The stock has a market capitalization of $137.22 billion, a price-to-earnings ratio of 49.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.67. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.51 and a quick ratio of 0.96. The business’s fifty day moving average price is $95.70 and its two-hundred day moving average price is $99.83. Boston Scientific Corporation has a fifty-two week low of $85.98 and a fifty-two week high of $109.50.

Boston Scientific 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.