Aureus Asset Management LLC Takes Position in Boston Scientific Corporation $BSX

Aureus Asset Management LLC bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 255,363 shares of the medical equipment provider’s stock, valued at approximately $16,024,000. Boston Scientific makes up approximately 1.1% of Aureus Asset Management LLC’s investment portfolio, making the stock its 28th largest position.

Other hedge funds have also recently modified their holdings of the company. Renaissance Group LLC acquired a new position in Boston Scientific in the 4th quarter valued at about $28,064,000. Rathbones Group PLC increased its holdings in shares of Boston Scientific by 20.9% during the 4th quarter. Rathbones Group PLC now owns 2,759,657 shares of the medical equipment provider’s stock worth $263,133,000 after buying an additional 477,680 shares during the last quarter. Waycross Partners LLC purchased a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $2,384,000. Meiji Yasuda America Inc purchased a new stake in shares of Boston Scientific during the 4th quarter valued at approximately $4,708,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Boston Scientific by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,173,399 shares of the medical equipment provider’s stock valued at $205,843,000 after acquiring an additional 139,004 shares during the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Down 0.4%

Shares of NYSE BSX opened at $43.01 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $63.92 billion, a PE ratio of 17.99, a PEG ratio of 0.83 and a beta of 0.58. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The stock has a fifty day simple moving average of $47.57 and a 200-day simple moving average of $64.56.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.19 billion. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.Boston Scientific’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. On average, equities analysts forecast that Boston Scientific Corporation will post 3.35 earnings per share for the current year.

Boston Scientific announced that its Board of Directors has authorized a stock buyback program on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Boston Scientific

In other Boston Scientific news, Director Cheryl Pegus purchased 1,770 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $56.49 per share, with a total value of $99,987.30. Following the transaction, the director directly owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David C. Habiger purchased 2,250 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the purchase, the director owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This represents a 19.35% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders acquired 9,800 shares of company stock worth $554,012. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BSX. Wall Street Zen cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Piper Sandler reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Boston Scientific in a research note on Friday, June 12th. Royal Bank Of Canada lowered their price target on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Monday, July 13th. Truist Financial cut their price objective on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 16th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $55.00 price objective (down from $75.00) on shares of Boston Scientific in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.84.

About Boston Scientific

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.