Atika Capital Management LLC Takes $7.61 Million Position in Boston Scientific Co. (NYSE:BSX)

Atika Capital Management LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 85,200 shares of the medical equipment provider’s stock, valued at approximately $7,610,000.

A number of other hedge funds also recently bought and sold shares of BSX. TFC Financial Management Inc. lifted its position in shares of Boston Scientific by 308.8% in the 4th quarter. TFC Financial Management Inc. now owns 278 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 210 shares during the period. Dunhill Financial LLC raised its stake in Boston Scientific by 86.4% in the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 152 shares in the last quarter. Global Wealth Strategies & Associates lifted its holdings in Boston Scientific by 423.7% in the fourth quarter. Global Wealth Strategies & Associates now owns 309 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 250 shares during the period. West Oak Capital LLC bought a new stake in Boston Scientific during the 4th quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. grew its holdings in shares of Boston Scientific by 262.4% during the 4th quarter. Valley National Advisers Inc. now owns 395 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 286 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price target on Boston Scientific from $95.00 to $115.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Citigroup boosted their target price on shares of Boston Scientific from $107.00 to $122.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Morgan Stanley increased their price target on shares of Boston Scientific from $100.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays boosted their price objective on shares of Boston Scientific from $111.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price for the company in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $108.91.

Boston Scientific Stock Down 8.9 %

Shares of Boston Scientific stock opened at $89.78 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.08 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a twelve month low of $66.80 and a twelve month high of $107.17. The company has a market cap of $132.78 billion, a price-to-earnings ratio of 71.82, a price-to-earnings-growth ratio of 2.79 and a beta of 0.77. The company’s 50 day moving average is $101.90 and its 200 day moving average is $93.63.

Boston Scientific (NYSE:BSX) last released its quarterly 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%. Research analysts anticipate that Boston Scientific Co. will post 2.85 EPS for the current year.

Boston Scientific 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.