Quadrant Capital Group LLC lowered its stake in Boston Scientific Co. (NYSE:BSX) by 16.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,515 shares of the medical equipment provider’s stock after selling 1,493 shares during the period. Quadrant Capital Group LLC’s holdings in Boston Scientific were worth $311,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BSX. Dimensional Fund Advisors LP increased its holdings in Boston Scientific by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,978,445 shares of the medical equipment provider’s stock valued at $105,251,000 after buying an additional 51,606 shares during the period. Geode Capital Management LLC boosted its stake in Boston Scientific by 11.3% in the fourth quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock valued at $599,030,000 after acquiring an additional 1,724,046 shares in the last quarter. Bank of Edwardsville acquired a new stake in Boston Scientific in the first quarter valued at approximately $493,000. Quad Cities Investment Group LLC boosted its stake in Boston Scientific by 15.4% in the first quarter. Quad Cities Investment Group LLC now owns 3,950 shares of the medical equipment provider’s stock valued at $155,000 after acquiring an additional 526 shares in the last quarter. Finally, First American Trust FSB boosted its stake in Boston Scientific by 1.0% in the first quarter. First American Trust FSB now owns 85,445 shares of the medical equipment provider’s stock valued at $3,279,000 after acquiring an additional 841 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.
Several brokerages have weighed in on BSX. Leerink Swann set a $50.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 31st. Stifel Nicolaus raised their target price on shares of Boston Scientific from $44.00 to $46.00 and gave the company an “in-line” rating in a research note on Thursday, June 27th. Evercore ISI upgraded shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price for the company in a research note on Monday, May 13th. Jefferies Financial Group lifted their price objective on shares of Boston Scientific from $44.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC set a $46.00 price objective on shares of Boston Scientific and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific currently has an average rating of “Buy” and a consensus target price of $44.91.
In related news, SVP Jodi Euerle Eddy sold 7,803 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $38.42, for a total transaction of $299,791.26. Following the transaction, the senior vice president now directly owns 88,978 shares in the company, valued at $3,418,534.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Bradley Sorenson sold 3,728 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.30, for a total transaction of $157,694.40. Following the transaction, the senior vice president now owns 48,385 shares in the company, valued at $2,046,685.50. The disclosure for this sale can be found here. Insiders have sold 55,327 shares of company stock worth $2,253,566 over the last 90 days. 0.66% of the stock is currently owned by company insiders.
BSX traded down $0.98 on Monday, reaching $41.77. 139,288 shares of the company’s stock were exchanged, compared to its average volume of 5,998,739. The firm has a market capitalization of $59.55 billion, a PE ratio of 28.39, a PEG ratio of 2.56 and a beta of 0.80. Boston Scientific Co. has a twelve month low of $31.56 and a twelve month high of $43.66. The business has a fifty day moving average price of $42.20. The company has a current ratio of 1.31, a quick ratio of 1.12 and a debt-to-equity ratio of 0.81.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. Boston Scientific’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 earnings per share. Analysts expect that Boston Scientific Co. will post 1.56 EPS for the current year.
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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