293,152 Shares in Boston Scientific Corporation $BSX Purchased by Eagle Health Investments LP

Eagle Health Investments LP bought a new stake in Boston Scientific Corporation (NYSE:BSX) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 293,152 shares of the medical equipment provider’s stock, valued at approximately $18,395,000. Boston Scientific comprises 3.2% of Eagle Health Investments LP’s investment portfolio, making the stock its 14th biggest position.

Several other hedge funds have also made changes to their positions in BSX. Outfitters Financial LLC lifted its holdings in Boston Scientific by 0.5% in the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after acquiring an additional 110 shares during the last quarter. Natural Investments LLC increased its stake in Boston Scientific by 2.9% during the fourth quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after acquiring an additional 112 shares during the last quarter. Patton Fund Management Inc. increased its stake in Boston Scientific by 5.5% during the fourth quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider’s stock worth $217,000 after acquiring an additional 118 shares during the last quarter. Bridgewater Advisors Inc. raised its position in Boston Scientific by 1.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 10,051 shares of the medical equipment provider’s stock valued at $921,000 after purchasing an additional 123 shares during the period. Finally, Earned Wealth Advisors LLC raised its position in Boston Scientific by 5.2% in the fourth quarter. Earned Wealth Advisors LLC now owns 2,647 shares of the medical equipment provider’s stock valued at $252,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of a number of research analyst reports. Piper Sandler reiterated an “overweight” rating and set a $65.00 price target on shares of Boston Scientific in a report on Friday, June 12th. Stifel Nicolaus decreased their target price on shares of Boston Scientific from $75.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Barclays dropped their price target on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a research report on Thursday, May 28th. Leerink Partners reduced their price target on shares of Boston Scientific from $87.00 to $74.00 and set an “outperform” rating on the stock in a research note on Thursday, May 28th. Finally, Citigroup decreased their price objective on shares of Boston Scientific from $87.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.64.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $45.56 on Tuesday. The business has a 50-day moving average of $47.00 and a 200 day moving average of $63.47. Boston Scientific Corporation has a 12 month low of $42.20 and a 12 month high of $109.50. The stock has a market capitalization of $67.72 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. 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 announced that its board has authorized a share repurchase program on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Boston Scientific news, Director David C. Habiger bought 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were purchased at an average cost of $55.92 per share, with a total value of $125,820.00. Following the purchase, the director directly owned 13,878 shares in the company, valued at approximately $776,057.76. This represents a 19.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cheryl Pegus bought 1,770 shares of Boston Scientific stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the completion of the acquisition, the director owned 1,770 shares in the company, valued at $99,987.30. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 9,800 shares of company stock worth $554,012 over the last three months. Company 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.