Weiss Asset Management LP Acquires Shares of 13,080 Boston Scientific Corporation $BSX

Weiss Asset Management LP acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,080 shares of the medical equipment provider’s stock, valued at approximately $821,000.

Several other institutional investors have also recently made changes to their positions in BSX. Delta Global Management LP bought a new position in shares of Boston Scientific during the first quarter valued at about $1,758,000. OMERS ADMINISTRATION Corp grew its position in Boston Scientific by 7.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 79,936 shares of the medical equipment provider’s stock worth $5,016,000 after purchasing an additional 5,326 shares in the last quarter. Bradley Foster & Sargent Inc. CT increased its stake in Boston Scientific by 27.3% in the 1st quarter. Bradley Foster & Sargent Inc. CT now owns 627,470 shares of the medical equipment provider’s stock valued at $39,374,000 after buying an additional 134,550 shares during the last quarter. Lombard Odier Asset Management Europe Ltd increased its stake in Boston Scientific by 5.7% in the 1st quarter. Lombard Odier Asset Management Europe Ltd now owns 151,463 shares of the medical equipment provider’s stock valued at $9,504,000 after buying an additional 8,184 shares during the last quarter. Finally, Aristotle Atlantic Partners LLC lifted its position in shares of Boston Scientific by 5.9% during the 1st quarter. Aristotle Atlantic Partners LLC now owns 223,520 shares of the medical equipment provider’s stock worth $14,026,000 after buying an additional 12,480 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 3.0%

Shares of BSX stock opened at $45.56 on Tuesday. The company has a 50 day moving average of $47.00 and a 200-day moving average of $63.47. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 12-month low of $42.20 and a 12-month high of $109.50. The firm has a market cap of $67.72 billion, a P/E ratio of 19.06, a PEG ratio of 0.85 and a beta of 0.58.

Boston Scientific declared that its Board of Directors has authorized a share repurchase program on Monday, May 18th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Weiss Ratings downgraded Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. Bank of America dropped their price target on Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Daiwa Securities Group cut Boston Scientific from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Truist Financial reduced their price objective on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Finally, Barclays decreased their target price on Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.64.

Insider Buying and Selling at Boston Scientific

In other news, Director Cheryl Pegus acquired 1,770 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the completion of the acquisition, the director owned 1,770 shares in the company, valued at approximately $99,987.30. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward J. Ludwig bought 3,580 shares of the stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the purchase, the director owned 25,359 shares of the company’s stock, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders bought 9,800 shares of company stock valued at $554,012. Company insiders own 0.34% 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.