MARSHALL WACE ASIA Ltd bought a new stake in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, Holdings Channel reports. The fund bought 2,260,586 shares of the medical equipment provider’s stock, valued at approximately $87,033,000. Boston Scientific comprises approximately 3.0% of MARSHALL WACE ASIA Ltd’s holdings, making the stock its 10th biggest position.
Several other large investors have also recently modified their holdings of the company. Moody National Bank Trust Division acquired a new stake in shares of Boston Scientific in the third quarter valued at about $108,000. Capital Guardian Trust Co. acquired a new stake in shares of Boston Scientific in the third quarter valued at about $110,000. Vantage Investment Advisors LLC lifted its stake in shares of Boston Scientific by 82.4% in the third quarter. Vantage Investment Advisors LLC now owns 2,989 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 1,350 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in shares of Boston Scientific in the third quarter valued at about $119,000. Finally, Quad Cities Investment Group LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at about $104,000. 90.85% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $38.11, for a total value of $190,550.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xin Warren Wang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 472,827 shares of company stock valued at $17,554,528. 0.73% of the stock is owned by insiders.
A number of brokerages have issued reports on BSX. Argus lifted their target price on shares of Boston Scientific from $41.00 to $43.00 and gave the stock a “buy” rating in a research report on Friday, October 26th. Guggenheim lifted their target price on shares of Boston Scientific to $45.00 and gave the stock a “buy” rating in a research report on Friday, November 16th. Barclays began coverage on shares of Boston Scientific in a research report on Monday, October 15th. They set an “overweight” rating and a $43.00 target price for the company. Oppenheimer restated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 21st. Finally, BTIG Research restated a “buy” rating and set a $45.00 target price on shares of Boston Scientific in a research report on Thursday, October 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.54.
Boston Scientific stock traded up $0.25 during trading on Thursday, reaching $36.77. The company had a trading volume of 9,679,674 shares, compared to its average volume of 7,650,786. Boston Scientific Co. has a 12-month low of $24.79 and a 12-month high of $39.44. The company has a market cap of $50.54 billion, a price-to-earnings ratio of 29.18, a PEG ratio of 2.40 and a beta of 0.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 0.78.
Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Boston Scientific’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific Co. will post 1.39 EPS for the current year.
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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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