Gilbert & Cook Inc. bought a new position in Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,510 shares of the medical equipment provider’s stock, valued at approximately $224,000.
Several other large investors have also recently made changes to their positions in the company. Investors Research Corp increased its position in Boston Scientific by 333.3% during the 2nd quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 500 shares in the last quarter. Next Capital Management LLC bought a new position in Boston Scientific during the 2nd quarter valued at approximately $29,000. NuWave Investment Management LLC increased its position in Boston Scientific by 111.4% during the 3rd quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 380 shares in the last quarter. Westside Investment Management Inc. bought a new position in Boston Scientific during the 2nd quarter valued at approximately $31,000. Finally, NEXT Financial Group Inc increased its position in Boston Scientific by 222.3% during the 2nd quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 538 shares in the last quarter. 91.64% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the company. Piper Jaffray Companies set a $50.00 price objective on Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. ValuEngine raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Friday. Morgan Stanley set a $50.00 target price on Boston Scientific and gave the stock a “buy” rating in a report on Thursday, August 29th. Leerink Swann set a $50.00 target price on Boston Scientific and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays reissued an “overweight” rating and issued a $48.00 target price on shares of Boston Scientific in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $47.07.
Shares of BSX stock traded down $0.21 on Friday, reaching $40.51. The stock had a trading volume of 3,199,353 shares, compared to its average volume of 7,209,796. The stock has a market cap of $56.54 billion, a P/E ratio of 27.56, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76. Boston Scientific Co. has a 1 year low of $31.56 and a 1 year high of $43.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.31. The company has a 50 day simple moving average of $40.34 and a 200 day simple moving average of $40.64.
Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.68 billion. Boston Scientific had a return on equity of 23.47% and a net margin of 10.49%. The company’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. On average, equities research analysts anticipate that Boston Scientific Co. will post 1.56 earnings per share for the current fiscal year.
In other news, SVP John Bradley Sorenson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $42.79, for a total value of $256,740.00. Following the transaction, the senior vice president now directly owns 42,385 shares in the company, valued at approximately $1,813,654.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maulik Nanavaty sold 9,623 shares of Boston Scientific stock in a transaction on Monday, November 4th. The shares were sold at an average price of $41.66, for a total value of $400,894.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,072 shares of company stock worth $4,188,092. Company insiders own 0.66% of the company’s stock.
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: 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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