SG Americas Securities LLC lowered its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 59.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,106 shares of the medical equipment provider’s stock after selling 89,758 shares during the quarter. SG Americas Securities LLC’s holdings in Boston Scientific were worth $2,446,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. NuWave Investment Management LLC lifted its stake in shares of Boston Scientific by 111.4% in the 3rd quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 380 shares during the last quarter. Investors Research Corp lifted its stake in shares of Boston Scientific by 333.3% during the 2nd quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 500 shares during the last quarter. Next Capital Management LLC bought a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $29,000. Westside Investment Management Inc. bought a new stake in shares of Boston Scientific during the 2nd quarter worth approximately $31,000. Finally, Optimum Investment Advisors lifted its stake in shares of Boston Scientific by 100.0% during the 3rd quarter. Optimum Investment Advisors now owns 800 shares of the medical equipment provider’s stock worth $33,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 91.80% of the company’s stock.
Shares of BSX stock opened at $41.42 on Thursday. Boston Scientific Co. has a 1-year low of $31.56 and a 1-year high of $43.84. The stock’s fifty day moving average price is $40.16 and its 200 day moving average price is $40.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.14 and a quick ratio of 0.77. The company has a market cap of $55.99 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.25 and a beta of 0.76.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Boston Scientific had a return on equity of 23.10% and a net margin of 10.49%. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. As a group, equities research analysts anticipate that Boston Scientific Co. will post 1.57 earnings per share for the current year.
BSX has been the subject of a number of research analyst reports. Barclays reaffirmed an “overweight” rating and set a $48.00 target price on shares of Boston Scientific in a research report on Tuesday, September 3rd. Guggenheim set a $53.00 target price on Boston Scientific and gave the company a “buy” rating in a research report on Friday, October 25th. ValuEngine raised Boston Scientific from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Stifel Nicolaus set a $47.00 target price on Boston Scientific and gave the company a “buy” rating in a research report on Friday, September 6th. Finally, Leerink Swann set a $50.00 target price on Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Boston Scientific presently has a consensus rating of “Buy” and a consensus price target of $47.07.
In other news, insider Williamson Scott purchased 250,000 shares of the company’s stock in a transaction on Monday, November 4th. The shares were acquired at an average price of $0.12 per share, for a total transaction of $30,000.00. Also, CFO Daniel J. Brennan sold 20,462 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $39.44, for a total value of $807,021.28. Following the sale, the chief financial officer now owns 235,422 shares in the company, valued at approximately $9,285,043.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,847 shares of company stock worth $3,710,649. Company insiders own 0.66% of the company’s stock.
About Boston Scientific
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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