Clear Harbor Asset Management LLC Acquires New Position in Boston Scientific Co. (NYSE:BSX)

Clear Harbor Asset Management LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the 4th quarter, HoldingsChannel reports. The fund bought 2,809 shares of the medical equipment provider’s stock, valued at approximately $251,000.

Other institutional investors have also recently made changes to their positions in the company. Values First Advisors Inc. bought a new position in Boston Scientific in the 3rd quarter valued at approximately $28,000. Dunhill Financial LLC boosted its position in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 152 shares during the last quarter. Global Wealth Strategies & Associates increased its holdings in Boston Scientific by 423.7% in the 4th 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 in the last quarter. West Oak Capital LLC purchased a new position in Boston Scientific in the 4th quarter worth about $29,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new position in Boston Scientific during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This represents a 11.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Arthur C. Butcher sold 14,010 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now directly owns 978 shares in the company, valued at approximately $87,306.06. The trade was a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 29,989 shares of company stock valued at $2,702,261 in the last 90 days. Insiders own 0.50% of the company’s stock.

Boston Scientific Stock Down 0.6 %

NYSE BSX opened at $100.29 on Thursday. Boston Scientific Co. has a 12 month low of $59.85 and a 12 month high of $101.65. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock has a market cap of $147.81 billion, a PE ratio of 82.88, a P/E/G ratio of 2.59 and a beta of 0.80. The stock’s 50 day moving average is $91.45 and its 200 day moving average is $84.93.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BSX. Wells Fargo & Company lifted their price target on shares of Boston Scientific from $98.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Bank of America boosted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Evercore ISI raised their price target on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Royal Bank of Canada upped their price objective on Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft raised Boston Scientific from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.26.

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.