Exome Asset Management LLC Invests $3.03 Million in Boston Scientific Corporation $BSX

Exome Asset Management LLC acquired a new stake in shares of Boston Scientific Corporation (NYSE:BSX) during the 1st quarter, Holdings Channel.com reports. The firm acquired 48,347 shares of the medical equipment provider’s stock, valued at approximately $3,034,000. Boston Scientific accounts for approximately 1.6% of Exome Asset Management LLC’s investment portfolio, making the stock its 21st largest position.

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

Wall Street Analyst Weigh In

BSX has been the subject of a number of research reports. Truist Financial lowered their target price on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 16th. Bank of America reduced their price objective on Boston Scientific from $105.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Robert W. Baird set a $70.00 target price on Boston Scientific in a research report on Thursday, May 28th. BTIG Research reaffirmed a “buy” rating and set a $65.00 price target on shares of Boston Scientific in a research report on Tuesday, June 16th. Finally, Citigroup decreased their price target on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.64.

Boston Scientific Price Performance

Shares of NYSE BSX opened at $45.56 on Tuesday. The stock has a market capitalization of $67.72 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 0.85 and a beta of 0.58. The business has a 50-day moving average of $47.00 and a 200-day moving average of $63.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. Boston Scientific Corporation has a fifty-two week low of $42.20 and a fifty-two week high of $109.50.

Boston Scientific announced that its board has initiated a stock buyback program on Monday, May 18th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at Boston Scientific

In related news, Director Edward J. Ludwig acquired 3,580 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were bought at an average price of $56.68 per share, for a total transaction of $202,914.40. Following the purchase, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. This trade represents a 16.44% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl Pegus acquired 1,770 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was bought at an average cost of $56.49 per share, with a total value of $99,987.30. Following the acquisition, the director owned 1,770 shares in the company, valued at $99,987.30. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 9,800 shares of company stock valued at $554,012. Insiders own 0.34% of the company’s stock.

Boston Scientific 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.