Is Boston Scientific in line for a private equity takeover? | Wall Street Beat Wall Street Beat

Billionaire hedge fund manager David Tepper, of Appaloosa Management, bought 7.8 million shares of Boston Scientific stock during the 4th quarter, according to regulatory filings, for a stake with a market value of $41.6 million as of Dec. 31.

That could be a sign that rumors of a private equity takeover have some substance, according to Appaloosa’s stake in BSX accounts for about 6% of its entire, $765 million portfolio, according to the website. With share prices holding steady at the low price of about $6, Tepper’s interest could signal that the rumors are right.

"Given Tepper’s involvement, we think [a PE takeover] could be the case – making Boston Scientific (NYSE:BSX) a great speculative play. It is priced low enough to be an OK investment in the short term, but if the company is taken over, the returns could be magical," according to The Street.

BSX shares broke the $6 mark today, closing up 5.9% at $6.25 for the day.

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Life science investment shop Burrill & Co. plans to open an office in Taiwan led by Dr. Marietta Wu. Read more

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 Deals Roundup

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 Analysts’ ups and downs

  • 3M Co. (NYSE:MMM): Deutsche Bank downgrades from "buy" to "hold."
  • Baxter International (NYSE:BAX): Citigroup upgrades from "sell" to "neutral."
  • Cerner (NSDQ:CERN): Morgan Stanley raises price target from $70 to $82, maintains on "overweight" rating.
  • Conceptus (NSDQ:CPTS): Zacks Investment Research upgrades from "underperform" to "neutral;" GARP Research reiterates "buy" rating; Barrington Research reiterates "outperform" rating, sets $20 price target; Cantor Fitzgerald initiates coverage at "buy."
  • DexCom (NSDQ:DXCM): Canaccord Genuity maintains "buy" rating, raises price target to $11.50 from $11; Wunderlich Securities raises price target to $15.
  • Greatbatch (NYSE:BG): Piper Jaffray upgrades to "neutral" from "underweight," raises price target to $25 from $20.
  • Integra Lifesciences (NSDQ:IART): Citigroup raises price target to $36, maintains "buy" rating; ThinkEquity initiates coverage with "buy" rating, $37 price target; Argus downgrades from "buy" to "hold;" Jefferies Group reiterates "buy" rating.
  • Teleflex (NYSE:TFX): Leerink Swann maintains "market perform" rating, lowers price target from $64 to $63.
  • Wright Medical (NSDQ:WMGI): BMO downgrades to "market perform," sets $15 price target.

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