Picton Mahoney Asset Management Acquires 49,856 Shares of Boston Scientific Co. (NYSE:BSX)

Picton Mahoney Asset Management increased its holdings in Boston Scientific Co. (NYSE:BSX) by 20.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 298,042 shares of the medical equipment provider’s stock after buying an additional 49,856 shares during the period. Picton Mahoney Asset Management’s holdings in Boston Scientific were worth $17,230,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Boston Scientific in the fourth quarter valued at $28,000. Motco increased its position in shares of Boston Scientific by 136.3% during the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 372 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 215 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Boston Scientific by 42.6% in the third quarter. Asset Dedication LLC now owns 786 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 235 shares during the period. Finally, CNB Bank purchased a new position in Boston Scientific during the third quarter valued at approximately $42,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Boston Scientific

In related news, Director Edward J. Ludwig sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $65.03, for a total transaction of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares in the company, valued at approximately $2,690,551.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Daniel J. Brennan sold 13,662 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward J. Ludwig sold 7,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $65.03, for a total value of $455,210.00. Following the completion of the sale, the director now directly owns 41,374 shares of the company’s stock, valued at approximately $2,690,551.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,384 shares of company stock worth $5,395,560. Insiders own 0.50% of the company’s stock.

Boston Scientific Trading Up 1.2 %

Boston Scientific stock traded up $0.88 during trading hours on Tuesday, reaching $73.43. The company had a trading volume of 4,151,495 shares, compared to its average volume of 6,613,376. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.66 and a quick ratio of 1.14. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a 50-day moving average price of $68.68 and a 200 day moving average price of $61.74. The firm has a market cap of $107.73 billion, a price-to-earnings ratio of 61.71, a P/E/G ratio of 2.51 and a beta of 0.77.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wells Fargo & Company raised their price target on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. UBS Group boosted their target price on Boston Scientific from $74.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. TD Cowen raised their price target on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Argus boosted their price objective on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $75.09.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.