Chiron Investment Management LLC Buys New Position in Boston Scientific Co. (NYSE:BSX)

Chiron Investment Management LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 63,629 shares of the medical equipment provider’s stock, valued at approximately $5,683,000. Boston Scientific makes up about 1.9% of Chiron Investment Management LLC’s investment portfolio, making the stock its 19th largest position.

Several other hedge funds also recently modified their holdings of the company. TFC Financial Management Inc. boosted its position in Boston Scientific by 308.8% during the fourth quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 210 shares during the last quarter. Global Wealth Strategies & Associates lifted its stake in shares of Boston Scientific by 423.7% during the 4th quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 250 shares during the period. West Oak Capital LLC acquired a new stake in shares of Boston Scientific during the fourth quarter worth $29,000. Valley National Advisers Inc. grew its position in shares of Boston Scientific by 262.4% in the fourth quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 286 shares during the period. Finally, Fairway Wealth LLC acquired a new position in Boston Scientific in the fourth quarter valued at $36,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

BSX opened at $93.66 on Monday. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. The firm has a market cap of $138.53 billion, a price-to-earnings ratio of 74.93, a PEG ratio of 2.79 and a beta of 0.73. The company has a fifty day simple moving average of $100.54 and a 200 day simple moving average of $94.10.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities research analysts expect that Boston Scientific Co. will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Arthur C. Butcher sold 17,313 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares of the company’s stock, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John Bradley Sorenson sold 6,528 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $104.97, for a total transaction of $685,244.16. Following the transaction, the executive vice president now directly owns 26,449 shares of the company’s stock, valued at approximately $2,776,351.53. This represents a 19.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,183 shares of company stock valued at $13,948,476 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on BSX. Truist Financial decreased their price target on Boston Scientific from $120.00 to $113.00 and set a “buy” rating on the stock in a research note on Friday. Argus set a $130.00 target price on shares of Boston Scientific in a report on Tuesday, February 18th. Wells Fargo & Company upped their price target on shares of Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price target on shares of Boston Scientific from $105.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Stifel Nicolaus upped their price objective on Boston Scientific from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $109.04.

About Boston Scientific

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.