First Quadrant L P CA Trims Holdings in Boston Scientific Co. (NYSE:BSX)

First Quadrant L P CA trimmed its position in Boston Scientific Co. (NYSE:BSX) by 39.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,902 shares of the medical equipment provider’s stock after selling 8,898 shares during the period. First Quadrant L P CA’s holdings in Boston Scientific were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Brinker Capital Inc. grew its position in shares of Boston Scientific by 25.3% during the fourth quarter. Brinker Capital Inc. now owns 11,577 shares of the medical equipment provider’s stock worth $524,000 after buying an additional 2,334 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Boston Scientific during the fourth quarter worth approximately $1,506,000. Franklin Resources Inc. grew its position in shares of Boston Scientific by 25.6% during the fourth quarter. Franklin Resources Inc. now owns 14,065 shares of the medical equipment provider’s stock worth $636,000 after buying an additional 2,867 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Boston Scientific by 6.1% during the first quarter. State of Alaska Department of Revenue now owns 328,995 shares of the medical equipment provider’s stock worth $10,734,000 after buying an additional 19,008 shares in the last quarter. Finally, Gradient Investments LLC grew its position in shares of Boston Scientific by 42.4% during the first quarter. Gradient Investments LLC now owns 115,360 shares of the medical equipment provider’s stock worth $3,764,000 after buying an additional 34,334 shares in the last quarter. Institutional investors and hedge funds own 89.97% of the company’s stock.

BSX stock opened at $38.57 on Friday. The company has a market capitalization of $53.97 billion, a P/E ratio of 13.68, a PEG ratio of 3.98 and a beta of 0.92. The company has a 50-day simple moving average of $36.11 and a 200 day simple moving average of $37.19. Boston Scientific Co. has a fifty-two week low of $24.10 and a fifty-two week high of $46.62. The company has a quick ratio of 0.80, a current ratio of 1.21 and a debt-to-equity ratio of 0.68.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.12. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.68 billion. Boston Scientific had a net margin of 39.18% and a return on equity of 13.68%. The company’s quarterly revenue was down 23.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 earnings per share. Equities analysts anticipate that Boston Scientific Co. will post 0.92 EPS for the current year.

BSX has been the subject of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Boston Scientific from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday. Wells Fargo & Co boosted their target price on shares of Boston Scientific from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. SunTrust Banks lowered their target price on shares of Boston Scientific from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Boston Scientific in a research note on Wednesday. Finally, CSFB boosted their target price on shares of Boston Scientific from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $44.71.

In related news, EVP David A. Pierce sold 2,170 shares of the company’s stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $38.00, for a total value of $82,460.00. Following the completion of the sale, the executive vice president now owns 9,401 shares of the company’s stock, valued at $357,238. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.70% of the company’s stock.

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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

Read More: Total Return

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).

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

Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.