Soros Fund Management LLC Buys 100,000 Shares of Boston Scientific Co. (NYSE:BSX)

Soros Fund Management LLC increased its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 40.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 350,001 shares of the medical equipment provider's stock after purchasing an additional 100,000 shares during the period. Soros Fund Management LLC's holdings in Boston Scientific were worth $29,330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Triad Wealth Partners LLC bought a new stake in shares of Boston Scientific in the second quarter worth about $26,000. Values First Advisors Inc. bought a new position in shares of Boston Scientific during the third quarter valued at approximately $28,000. Andra AP fonden bought a new stake in Boston Scientific in the second quarter valued at $29,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in Boston Scientific during the 3rd quarter valued at $30,000. Finally, Capital Performance Advisors LLP bought a new position in Boston Scientific in the 3rd quarter worth $30,000. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on BSX shares. Morgan Stanley increased their price target on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Citigroup raised their target price on Boston Scientific from $92.00 to $98.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Wells Fargo & Company upped their price target on Boston Scientific from $87.00 to $98.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Finally, StockNews.com downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of "Moderate Buy" and a consensus target price of $93.39.

Boston Scientific Stock Performance

Shares of BSX stock traded down $0.18 during mid-day trading on Friday, reaching $90.35. 862,754 shares of the company's stock traded hands, compared to its average volume of 6,002,192. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The firm has a market capitalization of $133.16 billion, a PE ratio of 74.82, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. Boston Scientific Co. has a 12 month low of $54.52 and a 12 month high of $91.93. The firm has a 50 day moving average price of $87.27 and a two-hundred day moving average price of $81.16.

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

Insider Activity

In related news, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now owns 34,748 shares in the company, valued at approximately $2,913,967.28. The trade was a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Ludwig sold 4,877 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the transaction, the director now owns 39,398 shares of the company's stock, valued at $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock worth $27,957,676 in the last three months. Company insiders own 0.50% of the company's stock.

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.