National Pension Service raised its position in Boston Scientific Corporation (NYSE:BSX) by 6.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,126,853 shares of the medical equipment provider’s stock after buying an additional 68,186 shares during the period. National Pension Service owned approximately 0.08% of Boston Scientific Corporation worth $31,349,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of BSX. Quadrant Capital Group LLC raised its stake in Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 487 shares during the period. Bronfman E.L. Rothschild L.P. boosted its position in Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock valued at $125,000 after buying an additional 338 shares during the period. Guardian Life Insurance Co. of America boosted its position in Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock valued at $131,000 after buying an additional 49 shares during the period. Commerce Bank bought a new position in Boston Scientific Corporation during the first quarter valued at about $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in Boston Scientific Corporation during the first quarter valued at about $215,000. 91.87% of the stock is currently owned by institutional investors and hedge funds.
Shares of Boston Scientific Corporation (BSX) traded down 0.40% during mid-day trading on Friday, hitting $27.62. 4,648,524 shares of the stock traded hands. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $28.51. The company’s 50 day moving average is $27.76 and its 200 day moving average is $25.65. The firm has a market capitalization of $37.82 billion, a P/E ratio of 88.53 and a beta of 1.10.
Boston Scientific Corporation (NYSE:BSX) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.01. Boston Scientific Corporation had a net margin of 5.07% and a return on equity of 23.45%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts expect that Boston Scientific Corporation will post $1.25 EPS for the current fiscal year.
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A number of analysts recently weighed in on BSX shares. Goldman Sachs Group, Inc. (The) started coverage on shares of Boston Scientific Corporation in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $28.00 price objective for the company. Oppenheimer Holdings, Inc. set a $27.00 price objective on shares of Boston Scientific Corporation and gave the stock a “hold” rating in a research note on Friday, April 28th. Stifel Nicolaus raised their price objective on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “hold” rating in a research note on Wednesday, June 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective (up previously from $29.00) on shares of Boston Scientific Corporation in a research note on Thursday, April 27th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $31.00 price objective (up previously from $27.00) on shares of Boston Scientific Corporation in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $29.61.
In other Boston Scientific Corporation news, EVP Michael P. Phalen sold 34,773 shares of the company’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $26.00, for a total value of $904,098.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel J. Brennan sold 92,158 shares of the company’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total value of $2,532,501.84. Following the completion of the sale, the chief financial officer now directly owns 235,421 shares of the company’s stock, valued at approximately $6,469,369.08. The disclosure for this sale can be found here. Insiders have sold 243,579 shares of company stock valued at $6,590,050 in the last three months. 0.74% of the stock is owned by insiders.
Boston Scientific Corporation Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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