Natixis Advisors L.P. grew its position in Boston Scientific Co. (NYSE:BSX) by 8.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,848 shares of the medical equipment provider’s stock after purchasing an additional 11,530 shares during the quarter. Natixis Advisors L.P.’s holdings in Boston Scientific were worth $6,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in BSX. Dimensional Fund Advisors LP increased its stake in Boston Scientific by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,978,445 shares of the medical equipment provider’s stock worth $105,251,000 after buying an additional 51,606 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Boston Scientific by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after purchasing an additional 1,724,046 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Boston Scientific by 38.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 166,925 shares of the medical equipment provider’s stock valued at $6,407,000 after purchasing an additional 46,280 shares during the period. Cornerstone Advisors Inc. raised its stake in Boston Scientific by 16.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,829 shares of the medical equipment provider’s stock valued at $109,000 after purchasing an additional 409 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Boston Scientific by 378.7% in the 1st quarter. Victory Capital Management Inc. now owns 97,629 shares of the medical equipment provider’s stock worth $3,747,000 after purchasing an additional 77,236 shares in the last quarter. 91.91% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Maulik Nanavaty sold 3,039 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $40.46, for a total transaction of $122,957.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 20,673 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $43.41, for a total transaction of $897,414.93. Following the transaction, the executive vice president now owns 226,835 shares in the company, valued at $9,846,907.35. The disclosure for this sale can be found here. Insiders have sold a total of 85,710 shares of company stock worth $3,659,649 in the last 90 days. 0.66% of the stock is currently owned by insiders.
Several research firms have recently commented on BSX. BTIG Research set a $46.00 target price on shares of Boston Scientific and gave the stock a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC set a $46.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Stifel Nicolaus set a $47.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Friday, September 6th. JPMorgan Chase & Co. assumed coverage on shares of Boston Scientific in a research note on Thursday, September 5th. They issued an “overweight” rating on the stock. Finally, Wells Fargo & Co increased their price objective on shares of Boston Scientific from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific presently has an average rating of “Buy” and an average price target of $45.30.
NYSE BSX traded up $0.68 during trading hours on Wednesday, hitting $41.98. 115,476 shares of the company were exchanged, compared to its average volume of 4,221,523. The stock has a 50-day moving average price of $42.41 and a 200 day moving average price of $40.07. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific Co. has a 52 week low of $31.56 and a 52 week high of $43.84. The stock has a market cap of $57.64 billion, a PE ratio of 28.54, a price-to-earnings-growth ratio of 2.50 and a beta of 0.82.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.64 billion. Boston Scientific had a return on equity of 23.29% and a net margin of 13.85%. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.41 EPS. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 1.56 earnings per share for the current year.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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