Lombard Odier Asset Management Switzerland SA Decreases Holdings in Boston Scientific Corporation $BSX

by · The Cerbat Gem

Lombard Odier Asset Management Switzerland SA reduced its stake in shares of Boston Scientific Corporation (NYSE:BSX – Free Report) by 34.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,102 shares of the medical equipment provider’s stock after selling 18,562 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Boston Scientific were worth $2,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Boston Scientific during the 4th quarter valued at approximately $2,199,395,000. Assenagon Asset Management S.A. grew its position in shares of Boston Scientific by 133.6% during the first quarter. Assenagon Asset Management S.A. now owns 10,057,936 shares of the medical equipment provider’s stock worth $631,135,000 after buying an additional 5,751,760 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Boston Scientific in the fourth quarter worth $280,735,000. Arrowstreet Capital Limited Partnership raised its holdings in Boston Scientific by 25.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,891,668 shares of the medical equipment provider’s stock valued at $871,702,000 after acquiring an additional 2,856,040 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its stake in Boston Scientific by 56.7% during the 4th quarter. Farallon Capital Management LLC now owns 7,439,564 shares of the medical equipment provider’s stock valued at $709,362,000 after acquiring an additional 2,693,007 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

BSX opened at $44.26 on Monday. The business has a 50 day moving average price of $47.21 and a two-hundred day moving average price of $63.84. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.90 and a quick ratio of 1.22. The company has a market capitalization of $65.78 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 0.85 and a beta of 0.58. Boston Scientific Corporation has a 1-year low of $42.20 and a 1-year high of $109.50.

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

Analyst Ratings Changes

A number of research firms have commented on BSX. Bank of America reduced their target price on Boston Scientific from $105.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, May 18th. Mizuho lowered their price target on Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. Robert W. Baird set a $70.00 price target on Boston Scientific in a research report on Thursday, May 28th. Daiwa Securities Group cut Boston Scientific from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Finally, Canaccord Genuity Group decreased their price objective on shares of Boston Scientific from $71.00 to $70.00 and set a “buy” rating for the company in a report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $79.84.

View Our Latest Stock Report on Boston Scientific

Insiders Place Their Bets

In other news, Director Cheryl Pegus acquired 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost 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 approximately $99,987.30. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David C. Habiger acquired 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average cost of $55.92 per share, for a total transaction of $125,820.00. Following the transaction, the director owned 13,878 shares of the company’s stock, valued at approximately $776,057.76. This represents a 19.35% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 9,800 shares of company stock worth $554,012. Company insiders own 0.34% of the company’s stock.

Boston Scientific Profile

(Free Report)

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.

See Also

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