Brasada Capital Management LP grew its stake in Boston Scientific Co. (NYSE:BSX) by 20.0% during the first quarter, HoldingsChannel reports. The firm owned 15,000 shares of the medical equipment provider’s stock after purchasing an additional 2,500 shares during the period. Brasada Capital Management LP’s holdings in Boston Scientific were worth $576,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of BSX. Norges Bank bought a new position in shares of Boston Scientific in the fourth quarter valued at approximately $468,943,000. Oregon Public Employees Retirement Fund lifted its holdings in Boston Scientific by 7,922.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock worth $339,000 after acquiring an additional 11,829,528 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Boston Scientific by 164.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,944,961 shares of the medical equipment provider’s stock worth $280,775,000 after acquiring an additional 4,941,897 shares during the period. BlackRock Inc. lifted its holdings in Boston Scientific by 3.7% during the fourth quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after acquiring an additional 4,195,164 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Boston Scientific by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after acquiring an additional 1,724,046 shares during the period. Institutional investors own 91.43% of the company’s stock.
A number of brokerages recently commented on BSX. Needham & Company LLC reiterated a “buy” rating and set a $43.00 price target on shares of Boston Scientific in a report on Monday. Evercore ISI upgraded Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 price target on the stock in a report on Monday. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a report on Monday, February 11th. BTIG Research reiterated a “buy” rating on shares of Boston Scientific in a report on Thursday, April 25th. Finally, Argus lifted their price target on Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $41.53.
In other news, CFO Daniel J. Brennan sold 22,438 shares of Boston Scientific stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $39.57, for a total value of $887,871.66. Following the completion of the transaction, the chief financial officer now directly owns 279,183 shares in the company, valued at $11,047,271.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 1,357 shares of Boston Scientific stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $40.25, for a total value of $54,619.25. Following the completion of the transaction, the executive vice president now owns 38,940 shares of the company’s stock, valued at $1,567,335. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,116 shares of company stock valued at $11,926,744. 0.66% of the stock is owned by company insiders.
Shares of NYSE BSX opened at $36.86 on Wednesday. The firm has a market capitalization of $50.02 billion, a PE ratio of 25.07, a P/E/G ratio of 2.13 and a beta of 0.83. Boston Scientific Co. has a fifty-two week low of $29.42 and a fifty-two week high of $41.00. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.12.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The company had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. Boston Scientific’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 1.55 earnings per share for the current year.
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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: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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