Calamos Advisors LLC cut its holdings in shares of Boston Scientific Corporation (NYSE:BSX – Free Report) by 6.2% during the first quarter, HoldingsChannel.com reports. The firm owned 817,686 shares of the medical equipment provider’s stock after selling 53,971 shares during the quarter. Calamos Advisors LLC’s holdings in Boston Scientific were worth $51,310,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Outfitters Financial LLC boosted its holdings in Boston Scientific by 0.5% during the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock worth $2,291,000 after buying an additional 110 shares during the last quarter. Fayez Sarofim & Co boosted its holdings in shares of Boston Scientific by 2.1% in the third quarter. Fayez Sarofim & Co now owns 5,327 shares of the medical equipment provider’s stock valued at $520,000 after buying an additional 111 shares during the period. Natural Investments LLC increased its holdings in Boston Scientific by 2.9% during the 4th quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 112 shares in the last quarter. Old Port Advisors grew its holdings in shares of Boston Scientific by 4.7% during the fourth quarter. Old Port Advisors now owns 2,558 shares of the medical equipment provider’s stock worth $244,000 after buying an additional 115 shares in the last quarter. Finally, Thrive Wealth Management LLC grew its stake in shares of Boston Scientific by 1.6% during the 4th quarter. Thrive Wealth Management LLC now owns 7,387 shares of the medical equipment provider’s stock worth $704,000 after acquiring an additional 117 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.
Boston Scientific Price Performance
Shares of BSX opened at $44.65 on Tuesday. The business has a 50-day simple moving average of $49.15 and a two-hundred day simple moving average of $67.13. The stock has a market cap of $66.36 billion, a PE ratio of 18.68, a PEG ratio of 0.86 and a beta of 0.58. Boston Scientific Corporation has a 12-month low of $42.25 and a 12-month high of $109.50. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42.
Boston Scientific announced that its Board of Directors has approved a stock buyback plan on Monday, May 18th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Leerink Partners lowered their target price on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, May 28th. Raymond James Financial restated an “outperform” rating and set a $88.00 target price (down from $97.00) on shares of Boston Scientific in a research note on Monday, March 30th. Royal Bank Of Canada reduced their price target on Boston Scientific from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday. Barclays cut their price objective on shares of Boston Scientific from $96.00 to $89.00 and set an “overweight” rating for the company in a report on Thursday, May 28th. Finally, UBS Group reduced their target price on Boston Scientific from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.72.
Check Out Our Latest Report on Boston Scientific
Insider Buying and Selling
In other news, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were acquired at an average price of $55.92 per share, with a total value of $125,820.00. Following the completion of the transaction, the director owned 13,878 shares of the company’s stock, valued at $776,057.76. The trade was a 19.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Cheryl Pegus bought 1,770 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were acquired at an average price of $56.49 per share, for a total transaction of $99,987.30. Following the transaction, the director owned 1,770 shares in the company, valued at $99,987.30. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 9,800 shares of company stock valued at $554,012 over the last ninety days. 0.34% of the stock is owned by company insiders.
About Boston Scientific
Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.
Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.
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