Marshall Wace LLP Trims Position in Boston Scientific Co. (BSX)

Marshall Wace LLP cut its stake in Boston Scientific Co. (NYSE:BSX) by 65.2% in the third quarter, Holdings Channel reports. The fund owned 652,828 shares of the medical equipment provider’s stock after selling 1,220,533 shares during the quarter. Marshall Wace LLP’s holdings in Boston Scientific were worth $25,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. IMA Wealth Inc. lifted its position in Boston Scientific by 1.1% in the third quarter. IMA Wealth Inc. now owns 117,815 shares of the medical equipment provider’s stock valued at $4,536,000 after acquiring an additional 1,330 shares during the last quarter. Somerset Group LLC lifted its position in Boston Scientific by 2.7% in the third quarter. Somerset Group LLC now owns 51,174 shares of the medical equipment provider’s stock valued at $1,970,000 after acquiring an additional 1,336 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings 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 buying an additional 1,350 shares during the last quarter. Synovus Financial Corp raised its holdings in shares of Boston Scientific by 37.2% in the third quarter. Synovus Financial Corp now owns 5,000 shares of the medical equipment provider’s stock valued at $191,000 after buying an additional 1,356 shares during the last quarter. Finally, First American Trust FSB raised its holdings in shares of Boston Scientific by 1.3% in the third quarter. First American Trust FSB now owns 113,375 shares of the medical equipment provider’s stock valued at $4,365,000 after buying an additional 1,470 shares during the last quarter. 90.85% of the stock is owned by hedge funds and other institutional investors.

NYSE BSX opened at $35.48 on Friday. The stock has a market cap of $50.88 billion, a P/E ratio of 28.16, a PEG ratio of 2.42 and a beta of 0.70. Boston Scientific Co. has a 52-week low of $24.79 and a 52-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 0.56.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.40 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, sell-side analysts predict that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.

In other Boston Scientific news, Chairman Michael F. Mahoney sold 116,666 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $35.88, for a total transaction of $4,185,976.08. Following the transaction, the chairman now directly owns 2,023,104 shares in the company, valued at $72,588,971.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Bradley Sorenson sold 10,000 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $35.86, for a total transaction of $358,600.00. Following the transaction, the senior vice president now owns 44,636 shares in the company, valued at $1,600,646.96. The disclosure for this sale can be found here. Insiders have sold 472,827 shares of company stock worth $17,554,528 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

BSX has been the subject of a number of research reports. Raymond James upped their target price on shares of Boston Scientific from $40.00 to $41.00 and gave the company a “strong-buy” rating in a report on Tuesday, September 4th. Barclays initiated coverage on shares of Boston Scientific in a report on Monday, October 15th. They issued an “overweight” rating and a $43.00 target price for the company. Guggenheim upped their target price on shares of Boston Scientific to $45.00 and gave the company a “buy” rating in a report on Friday, November 16th. Oppenheimer reaffirmed a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 21st. Finally, Jefferies Financial Group raised shares of Boston Scientific from a “hold” rating to a “buy” rating and upped their target price for the company from $34.00 to $42.00 in a report on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $39.54.

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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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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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