Medical Device Stocks Pop On Boston Scientific Corporation (BSX) Takeover Rumors

14 June, 2018, 10:02 | Author: Kara Nash
  • Boston Scientific Halted On Stryker Takeover Approach

The current ratio for BSX is 0.80 and that of EXPR is 1.90. It dropped, as 42 investors sold BSX shares while 181 reduced holdings.

Shares of Boston Scientific opened at $31.95 on Thursday, MarketBeat Ratings reports. Furthermore, the percentage of stocks above their 50-day moving average helps determine the overall health of the market. Cleararc Inc has invested 0.14% in Boston Scientific Corporation (NYSE:BSX). Bridgewater Assoc LP owns 100,850 shares. Arrowstreet Capital Partnership holds 878,175 shares or 0.06% of its portfolio. The MF Rank of Boston Scientific Corporation (NYSE:BSX) is 4558. Commerzbank Aktiengesellschaft Fi invested in 0.01% or 31,742 shares.

Though it has recently stressed to investors its ability to innovate new technologies, over the years Boston Scientific has grown through acquisitions. Factory Mutual Insur accumulated 0.16% or 550,000 shares. These shares are worth $152,900 and were traded at $30.58 each. A representative for Boston Scientific didn't immediately respond to a request for comment.

Since December 29, 2017, it had 0 insider purchases, and 20 selling transactions for $9.49 million activity. On Thursday, March 1 the insider Sorenson John Bradley sold $381,949. If the Golden Cross is greater than 1, then the 50 day moving average is above the 200 day moving average - indicating a positive share price momentum. The shares now trade at $10.50 and have been able to report a change of 14.75% over the past one week. Commonwealth Equity Services LLC grew its position in shares of Boston Scientific by 2.7% during the 1st quarter.

In related news, EVP David A. Pierce sold 5,000 shares of the company's stock in a transaction that occurred on Friday, June 1st. The institutional investor held 141.91 million shares of the medical and dental instruments company at the end of 2018Q1, valued at $3.88 billion, down from 157.52 million at the end of the previous reported quarter. Adage Capital Prtnrs Group Incorporated Ltd Liability invested 0.15% of its portfolio in Boston Scientific Corporation (NYSE:BSX). About 14.04M shares traded or 98.82% up from the average. Boston Scientific Corporation (NYSE:BSX) presently has a 10 month price index of 1.13862. It has underperformed by 1.38% the S&P500.

Fmr Llc, which manages about $842.35 billion US Long portfolio, upped its stake in Hanesbrands Inc (NYSE:HBI) by 459,125 shares to 10.37 million shares, valued at $190.99 million in 2018Q1, according to the filing. Wells Fargo & Company MN now owns 12,730,496 shares of the medical equipment provider's stock worth $347,797,000 after purchasing an additional 784,825 shares in the last quarter.


Device maker Stryker Corp has made a takeover approach to Boston Scientific Corp, the Wall Street Journal reported https://www.wsj.com/articles/stryker-has-made-a-takeover-approach-to-boston-scientific-1528727749?mod=searchresults&page=1&pos=1, citing people familiar with the matter. They expect $0.34 earnings per share, up 6.25 % or $0.02 from last year's $0.32 per share. BSX's profit will be $469.14 million for 23.49 P/E if the $0.34 EPS becomes a reality. Fil Ltd holds 0.2% in Boston Scientific Corporation (NYSE:BSX) or 2.63 million shares.

More news for Boston Scientific Corporation (NYSE:BSX) were recently published by: Streetinsider.com, which released: "JANA Shows New Stakes in Apple (AAPL), Boston Scientific (BSX), Dropbox (DBX), iQIYI (IQ) (more.) -13F" on May 15, 2018. TheStreet downgraded Boston Scientific from a "b" rating to a "c" rating in a report on Monday, March 5th.

The stock of Boston Scientific Corporation (NYSE:BSX) hit a new 52-week high and has $33.55 target or 5.00 % above today's $31.95 share price. Therefore 86% are positive. Boston Scientific Corp had 21 analyst reports since December 12, 2017 according to SRatingsIntel. As per Monday, March 19, the company rating was maintained by Morgan Stanley. The firm earned "Buy" rating on Thursday, April 5 by Bank of America. On Wednesday, April 25 the stock rating was maintained by Needham with "Buy". When beta is less/more than 1, it can be interpreted that the stock is theoretically less/more volatile than the market - something traders will surely be keeping an eye on. The rating was maintained by Needham with "Buy" on Thursday, February 1.

Shares of Boston Scientific, which had market value of $44bn (€37.3bn) as of last Friday's market close, surged 9pc, while Stryker's were down 3pc on the bid news.

Want to see what other hedge funds are holding BSX? Piper Jaffray Companies initiated coverage on Boston Scientific in a research note on Friday, February 23rd. The firm has "Buy" rating given on Wednesday, April 25 by Stifel Nicolaus.

Boston Scientific lags behind Medtronic Plc and Edwards Lifesciences Corp in the heart valves market and has pinned its hopes on its updated Lotus device, set for launch in 2019, following the withdrawal of an earlier version from Europe past year. It operates through three divisions: Cardiovascular, Rhythm Management, and MedSurg.

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