Magnetar Financial LLC Sells 574,219 Shares of Boston Scientific Co. (NYSE:BSX)

Magnetar Financial LLC trimmed its position in Boston Scientific Co. (NYSE:BSX - Free Report) by 65.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 297,145 shares of the medical equipment provider's stock after selling 574,219 shares during the quarter. Magnetar Financial LLC's holdings in Boston Scientific were worth $26,541,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. TFC Financial Management Inc. raised its stake 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 valued at $25,000 after buying an additional 210 shares in the last quarter. Dunhill Financial LLC increased 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 valued at $28,000 after acquiring an additional 152 shares during the period. Global Wealth Strategies & Associates lifted its stake in Boston Scientific by 423.7% during the fourth 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 Boston Scientific during the fourth quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. grew its stake in shares of Boston Scientific by 262.4% in the 4th 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. 89.07% of the stock is owned by institutional investors.

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Boston Scientific Trading Up 2.0 %

NYSE BSX traded up $2.05 during trading hours on Monday, hitting $102.74. The company's stock had a trading volume of 5,830,086 shares, compared to its average volume of 5,772,589. The stock has a fifty day moving average of $101.68 and a 200 day moving average of $92.50. 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 firm has a market capitalization of $151.96 billion, a P/E ratio of 82.19, a PEG ratio of 2.79 and a beta of 0.77.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 forecast that Boston Scientific Co. will post 2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

BSX has been the subject of several analyst reports. Morgan Stanley raised their target price on Boston Scientific from $100.00 to $120.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. UBS Group lifted their price objective on Boston Scientific from $105.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 7th. Truist Financial upped their target price on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Finally, TD Cowen upped their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, December 12th. Two analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $108.91.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Arthur C. Butcher sold 17,313 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 5,502 shares in the company, valued at $560,103.60. This represents a 75.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP John Bradley Sorenson sold 1,201 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $106.31, for a total value of $127,678.31. Following the sale, the executive vice president now directly owns 25,443 shares in the company, valued at approximately $2,704,845.33. This represents a 4.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,302 shares of company stock worth $14,319,269. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Company 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.