Sector Gamma AS lifted its stake in Boston Scientific (NYSE:BSX) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,741,380 shares of the medical equipment provider’s stock after acquiring an additional 40,500 shares during the period. Boston Scientific makes up 8.6% of Sector Gamma AS’s portfolio, making the stock its 2nd largest holding. Sector Gamma AS owned approximately 0.13% of Boston Scientific worth $47,575,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in BSX. Arrowstreet Capital Limited Partnership grew its stake in shares of Boston Scientific by 371.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,149,847 shares of the medical equipment provider’s stock worth $177,245,000 after acquiring an additional 5,633,721 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Boston Scientific by 59.0% during the fourth quarter. Two Sigma Advisers LP now owns 7,426,814 shares of the medical equipment provider’s stock valued at $184,111,000 after acquiring an additional 2,756,504 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Boston Scientific by 29.3% during 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 acquiring an additional 2,705,194 shares during the period. Eaton Vance Management lifted its holdings in shares of Boston Scientific by 42.3% during the first quarter. Eaton Vance Management now owns 6,564,617 shares of the medical equipment provider’s stock valued at $179,345,000 after acquiring an additional 1,951,777 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in shares of Boston Scientific by 79.2% during the fourth quarter. Two Sigma Investments LP now owns 3,702,539 shares of the medical equipment provider’s stock valued at $91,786,000 after acquiring an additional 1,635,881 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.
A number of research analysts have issued reports on BSX shares. Canaccord Genuity reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, January 17th. TheStreet raised Boston Scientific from a “c+” rating to a “b” rating in a report on Thursday, January 18th. Zacks Investment Research raised Boston Scientific from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Jefferies Group reissued a “neutral” rating on shares of Boston Scientific in a report on Friday, February 2nd. Finally, Piper Jaffray assumed coverage on Boston Scientific in a report on Friday, February 23rd. They set an “overweight” rating and a $31.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $32.23.
In related news, SVP Arthur C. Butcher sold 7,500 shares of Boston Scientific stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $30.06, for a total value of $225,450.00. Following the completion of the sale, the senior vice president now directly owns 12,484 shares in the company, valued at $375,269.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John Bradley Sorenson sold 1,950 shares of Boston Scientific stock in a transaction dated Monday, March 5th. The stock was sold at an average price of $27.43, for a total value of $53,488.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,512 shares of company stock valued at $5,005,583. Corporate insiders own 0.73% of the company’s stock.
Shares of BSX stock opened at $29.97 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.82 and a quick ratio of 0.59. The stock has a market capitalization of $40.87 billion, a P/E ratio of 23.79, a PEG ratio of 2.11 and a beta of 0.81. Boston Scientific has a 12 month low of $29.55 and a 12 month high of $30.07.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 25th. The medical equipment provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.34 billion. Boston Scientific had a return on equity of 25.10% and a net margin of 1.21%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. equities analysts anticipate that Boston Scientific will post 1.39 earnings per share for the current fiscal year.
Boston Scientific Company Profile
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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