Signition LP lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 104,624 shares of the medical equipment provider’s stock after selling 3,580 shares during the quarter. Boston Scientific accounts for approximately 2.0% of Signition LP’s investment portfolio, making the stock its 3rd largest position. Signition LP’s holdings in Boston Scientific were worth $4,028,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Moody National Bank Trust Division acquired a new position in shares of Boston Scientific in the 3rd quarter valued at $108,000. Quad Cities Investment Group LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $104,000. Captrust Financial Advisors boosted its position in shares of Boston Scientific by 103.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock valued at $102,000 after purchasing an additional 1,594 shares during the period. Kaizen Advisory LLC boosted its position in shares of Boston Scientific by 146.7% in the 2nd quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock valued at $108,000 after purchasing an additional 1,962 shares during the period. Finally, NumerixS Investment Technologies Inc boosted its position in shares of Boston Scientific by 1,650.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock valued at $114,000 after purchasing an additional 3,300 shares during the period. 91.00% of the stock is owned by institutional investors and hedge funds.
BSX opened at $37.40 on Friday. Boston Scientific Co. has a fifty-two week low of $24.54 and a fifty-two week high of $39.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.78 and a quick ratio of 0.60. The stock has a market cap of $49.69 billion, a PE ratio of 29.68, a PEG ratio of 2.36 and a beta of 0.59.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the business earned $0.31 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. On average, research analysts forecast that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.
In related news, Chairman Michael F. Mahoney sold 116,666 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.88, for a total value of $4,185,976.08. Following the transaction, the chairman now directly owns 2,023,104 shares of the company’s stock, valued at approximately $72,588,971.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kevin J. Ballinger sold 37,430 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $38.00, for a total value of $1,422,340.00. The disclosure for this sale can be found here. Insiders have sold a total of 290,834 shares of company stock valued at $10,870,168 over the last ninety days. Company insiders own 0.73% of the company’s stock.
Several equities research analysts recently issued reports on the company. BTIG Research reissued a “buy” rating and issued a $45.00 price objective on shares of Boston Scientific in a research note on Tuesday, October 16th. Oppenheimer set a $38.00 price objective on Boston Scientific and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Canaccord Genuity increased their price objective on Boston Scientific from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, October 25th. Royal Bank of Canada increased their price objective on Boston Scientific to $36.00 and gave the stock a “top pick” rating in a research note on Monday, July 23rd. Finally, Morgan Stanley increased their price objective on Boston Scientific from $38.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $39.00.
Boston Scientific 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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