Piedmont Investment Advisors LLC Boosts Stake in Boston Scientific Corporation (BSX)

Piedmont Investment Advisors LLC raised its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 292,474 shares of the medical equipment provider’s stock after purchasing an additional 6,495 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in Boston Scientific Corporation were worth $8,107,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its holdings in shares of Boston Scientific Corporation by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after purchasing an additional 49 shares during the period. Comerica Securities Inc. increased its holdings in shares of Boston Scientific Corporation by 0.9% during the 2nd quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock worth $318,000 after purchasing an additional 99 shares during the period. ETRADE Capital Management LLC increased its holdings in shares of Boston Scientific Corporation by 1.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock worth $279,000 after purchasing an additional 171 shares during the period. Cleararc Capital Inc. increased its holdings in shares of Boston Scientific Corporation by 0.8% during the 1st quarter. Cleararc Capital Inc. now owns 33,322 shares of the medical equipment provider’s stock worth $829,000 after purchasing an additional 251 shares during the period. Finally, BB&T Corp increased its holdings in shares of Boston Scientific Corporation by 2.8% during the 2nd quarter. BB&T Corp now owns 12,926 shares of the medical equipment provider’s stock worth $359,000 after purchasing an additional 349 shares during the period. Institutional investors own 90.44% of the company’s stock.

Boston Scientific Corporation (NYSE:BSX) traded down 0.20% during trading on Friday, reaching $29.37. 500,430 shares of the company’s stock were exchanged. The firm has a market cap of $40.30 billion, a P/E ratio of 52.54 and a beta of 1.09. The stock’s 50 day moving average price is $28.57 and its 200 day moving average price is $27.14. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $29.54.

Boston Scientific Corporation (NYSE:BSX) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. The business had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the company earned $0.27 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Boston Scientific Corporation will post $1.26 EPS for the current fiscal year.

In related news, SVP John Bradley Sorenson sold 7,900 shares of Boston Scientific Corporation stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.37, for a total transaction of $208,323.00. Following the sale, the senior vice president now directly owns 21,680 shares in the company, valued at approximately $571,701.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Supratim Bose sold 347,137 shares of Boston Scientific Corporation stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $29.12, for a total transaction of $10,108,629.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 531,297 shares of company stock worth $15,144,095. 0.74% of the stock is owned by corporate insiders.

BSX has been the topic of several research reports. BidaskClub downgraded shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Needham & Company LLC boosted their price objective on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 22nd. Royal Bank Of Canada restated a “buy” rating and set a $31.00 price objective on shares of Boston Scientific Corporation in a report on Friday, September 1st. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific Corporation in a report on Sunday, July 30th. Finally, Zacks Investment Research downgraded shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.13.

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About Boston Scientific Corporation

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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Institutional Ownership by Quarter for Boston Scientific Corporation (NYSE:BSX)

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