Guggenheim Capital LLC increased its stake in Boston Scientific Co. (NYSE:BSX) by 21.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,324,994 shares of the medical equipment provider’s stock after purchasing an additional 409,846 shares during the quarter. Guggenheim Capital LLC owned about 0.17% of Boston Scientific worth $57,637,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bollard Group LLC grew its position in shares of Boston Scientific by 0.3% in the fourth quarter. Bollard Group LLC now owns 33,854,117 shares of the medical equipment provider’s stock valued at $839,244,000 after purchasing an additional 118,050 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Boston Scientific by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 13,040,987 shares of the medical equipment provider’s stock valued at $322,533,000 after purchasing an additional 373,607 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Boston Scientific by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,945,671 shares of the medical equipment provider’s stock valued at $296,133,000 after purchasing an additional 2,705,194 shares in the last quarter. OppenheimerFunds Inc. grew its position in shares of Boston Scientific by 11.5% in the fourth quarter. OppenheimerFunds Inc. now owns 7,976,540 shares of the medical equipment provider’s stock valued at $197,739,000 after purchasing an additional 824,195 shares in the last quarter. Finally, Boston Partners grew its position in shares of Boston Scientific by 3.8% in the fourth quarter. Boston Partners now owns 7,475,797 shares of the medical equipment provider’s stock valued at $185,325,000 after purchasing an additional 276,390 shares in the last quarter. Institutional investors own 91.04% of the company’s stock.
In other news, SVP David A. Pierce sold 8,763 shares of the business’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $27.74, for a total value of $243,085.62. Following the completion of the sale, the senior vice president now owns 24,201 shares of the company’s stock, valued at approximately $671,335.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maulik Nanavaty sold 15,568 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $25.38, for a total value of $395,115.84. The disclosure for this sale can be found here. Insiders sold a total of 252,818 shares of company stock valued at $6,879,888 over the last quarter. Company insiders own 0.74% of the company’s stock.
BSX opened at $27.35 on Friday. Boston Scientific Co. has a 12-month low of $24.31 and a 12-month high of $29.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.68 and a quick ratio of 0.49. The stock has a market capitalization of $38,140.03, a PE ratio of 21.71, a PEG ratio of 2.01 and a beta of 0.81.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. Boston Scientific had a return on equity of 24.27% and a net margin of 1.15%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the business earned $0.30 EPS. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities research analysts expect that Boston Scientific Co. will post 1.37 EPS for the current year.
BSX has been the subject of several recent research reports. Royal Bank of Canada reiterated a “top pick” rating and issued a $32.00 price target on shares of Boston Scientific in a research report on Monday, March 5th. TheStreet upgraded Boston Scientific from a “c+” rating to a “b” rating in a research report on Thursday, January 18th. Needham & Company LLC restated a “buy” rating and set a $35.00 target price on shares of Boston Scientific in a research report on Tuesday, March 27th. Zacks Investment Research cut Boston Scientific from a “hold” rating to a “sell” rating in a research report on Tuesday, January 9th. Finally, ValuEngine cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $31.45.
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Boston Scientific Profile
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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