Daiwa Securities Group Inc. raised its stake in Boston Scientific Corporation (NYSE:BSX) by 502.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 399,814 shares of the medical equipment provider’s stock after acquiring an additional 333,435 shares during the period. Daiwa Securities Group Inc.’s holdings in Boston Scientific were worth $9,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Valeo Financial Advisors LLC bought a new stake in Boston Scientific in the 3rd quarter valued at $138,000. Steward Partners Investment Advisory LLC bought a new stake in Boston Scientific in the 3rd quarter valued at $139,000. Cerebellum GP LLC bought a new stake in Boston Scientific in the 4th quarter valued at $126,000. Ironwood Investment Counsel LLC bought a new stake in Boston Scientific in the 3rd quarter valued at $204,000. Finally, Perkins Capital Management Inc. bought a new stake in Boston Scientific in the 3rd quarter valued at $204,000. 90.15% of the stock is owned by hedge funds and other institutional investors.
Boston Scientific Corporation (BSX) opened at $25.92 on Friday. Boston Scientific Corporation has a 1-year low of $23.29 and a 1-year high of $29.93. The stock has a market cap of $35,593.24, a PE ratio of 20.57, a P/E/G ratio of 1.88 and a beta of 0.81. The company has a current ratio of 0.72, a quick ratio of 0.50 and a debt-to-equity ratio of 0.58.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. Boston Scientific had a net margin of 1.15% and a return on equity of 24.04%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm posted $0.30 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. equities analysts predict that Boston Scientific Corporation will post 1.37 earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. Canaccord Genuity assumed coverage on shares of Boston Scientific in a report on Tuesday, October 24th. They issued a “buy” rating and a $36.00 price target for the company. Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 price target for the company in a report on Friday, October 20th. BMO Capital Markets raised their price objective on shares of Boston Scientific from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. SunTrust Banks set a $34.00 price objective on shares of Boston Scientific and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, Barclays reaffirmed a “buy” rating and set a $32.00 price objective on shares of Boston Scientific in a report on Wednesday, January 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $31.00.
In other Boston Scientific news, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $26.66, for a total value of $413,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Valley Gold Master Fund L. Sun acquired 408,006 shares of the stock in a transaction on Tuesday, November 28th. The stock was bought at an average price of $0.45 per share, with a total value of $183,602.70. Insiders have sold a total of 161,464 shares of company stock valued at $4,253,617 over the last three months. 0.74% of the stock is currently owned by insiders.
About Boston Scientific
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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