Bfsg LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, Holdings Channel reports. The firm bought 13,779 shares of the medical equipment provider’s stock, valued at approximately $530,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. raised its position in Boston Scientific by 28.6% during the first quarter. Baird Financial Group Inc. now owns 19,702 shares of the medical equipment provider’s stock worth $538,000 after acquiring an additional 4,387 shares during the period. Commonwealth Equity Services LLC raised its position in Boston Scientific by 2.7% during the first quarter. Commonwealth Equity Services LLC now owns 71,279 shares of the medical equipment provider’s stock worth $1,947,000 after acquiring an additional 1,850 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its position in Boston Scientific by 10.3% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 41,894 shares of the medical equipment provider’s stock worth $1,135,000 after acquiring an additional 3,924 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Boston Scientific during the first quarter worth $5,024,000. Finally, Royal Bank of Canada raised its position in Boston Scientific by 67.3% during the first quarter. Royal Bank of Canada now owns 1,566,013 shares of the medical equipment provider’s stock worth $42,784,000 after acquiring an additional 630,046 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.
Shares of Boston Scientific stock traded down $0.53 during trading hours on Thursday, reaching $37.47. 621,006 shares of the company’s stock were exchanged, compared to its average volume of 7,578,183. Boston Scientific Co. has a 1 year low of $24.54 and a 1 year high of $39.44. The firm has a market capitalization of $53.24 billion, a price-to-earnings ratio of 30.16, a PEG ratio of 2.68 and a beta of 0.59. The company has a quick ratio of 0.60, a current ratio of 0.83 and a debt-to-equity ratio of 0.62.
Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. Boston Scientific had a net margin of 5.48% and a return on equity of 26.35%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm earned $0.32 earnings per share. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, research analysts anticipate that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.
In related news, EVP Kevin J. Ballinger sold 37,430 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $38.00, for a total value of $1,422,340.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Michael F. Mahoney sold 116,666 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $38.80, for a total transaction of $4,526,640.80. The disclosure for this sale can be found here. Insiders have sold 295,834 shares of company stock valued at $11,038,468 in the last ninety days. Insiders own 0.73% of the company’s stock.
BSX has been the subject of a number of research analyst reports. Jefferies Financial Group upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $42.00 in a research report on Tuesday, September 4th. Guggenheim restated a “buy” rating and set a $43.00 price objective on shares of Boston Scientific in a research report on Friday, July 27th. SunTrust Banks upped their price objective on shares of Boston Scientific to $39.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. Stifel Nicolaus restated a “buy” rating and set a $37.00 price objective on shares of Boston Scientific in a research report on Thursday, July 26th. Finally, Argus upped their price objective on shares of Boston Scientific to $41.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company’s stock. Boston Scientific currently has an average rating of “Buy” and a consensus price target of $38.22.
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: Cardiovascular, Rhythm Management, and MedSurg. 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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