Aristotle Atlantic Partners LLC Acquires 12,480 Shares of Boston Scientific Corporation $BSX

Aristotle Atlantic Partners LLC boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 223,520 shares of the medical equipment provider’s stock after purchasing an additional 12,480 shares during the period. Aristotle Atlantic Partners LLC’s holdings in Boston Scientific were worth $14,026,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BSX. Brighton Jones LLC increased its stake in Boston Scientific by 0.8% in the 4th quarter. Brighton Jones LLC now owns 27,376 shares of the medical equipment provider’s stock worth $2,445,000 after buying an additional 226 shares in the last quarter. FWL Investment Management LLC bought a new stake in Boston Scientific during the second quarter valued at about $26,000. Main Street Financial Solutions LLC lifted its position in shares of Boston Scientific by 35.3% in the second quarter. Main Street Financial Solutions LLC now owns 7,556 shares of the medical equipment provider’s stock valued at $812,000 after acquiring an additional 1,971 shares in the last quarter. Ieq Capital LLC lifted its position in shares of Boston Scientific by 97.0% in the second quarter. Ieq Capital LLC now owns 123,592 shares of the medical equipment provider’s stock valued at $13,275,000 after acquiring an additional 60,860 shares in the last quarter. Finally, HUB Investment Partners LLC boosted its stake in shares of Boston Scientific by 56.2% in the second quarter. HUB Investment Partners LLC now owns 7,102 shares of the medical equipment provider’s stock worth $763,000 after acquiring an additional 2,556 shares during the period. Institutional investors own 89.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Evercore set a $65.00 price objective on shares of Boston Scientific in a report on Monday, July 6th. Robert W. Baird set a $70.00 target price on shares of Boston Scientific in a report on Thursday, May 28th. Mizuho dropped their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a research report on Wednesday, July 15th. Daiwa Securities Group cut shares of Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Finally, Bank of America reduced their price target on shares of Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.84.

Insider Buying and Selling at Boston Scientific

In other news, Director David C. Habiger bought 2,250 shares of the stock in a transaction dated Wednesday, May 20th. The stock was purchased at an average price of $55.92 per share, for a total transaction of $125,820.00. Following the acquisition, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward J. Ludwig purchased 3,580 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $56.68 per share, with a total value of $202,914.40. Following the completion of the purchase, the director owned 25,359 shares in the company, valued at $1,437,348.12. This trade represents a 16.44% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 9,800 shares of company stock worth $554,012 over the last quarter. Insiders own 0.34% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $44.26 on Friday. The company’s 50-day moving average price is $47.21 and its 200-day moving average price is $64.06. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. The company has a market cap of $65.78 billion, a PE ratio of 18.52, a price-to-earnings-growth ratio of 0.85 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.

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

Boston Scientific declared that its board has approved a share buyback program on Monday, May 18th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical equipment provider to purchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.