Cornerstone Capital Management Holdings LLC. boosted its stake in Boston Scientific Co. (NYSE:BSX) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 258,175 shares of the medical equipment provider’s stock after buying an additional 22,917 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Boston Scientific were worth $6,399,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Bainco International Investors bought a new stake in Boston Scientific in the 4th quarter worth approximately $5,153,000. Paloma Partners Management Co purchased a new stake in Boston Scientific in the 4th quarter worth $1,903,000. Ardsley Advisory Partners purchased a new stake in Boston Scientific in the 4th quarter worth $496,000. Teachers Retirement System of The State of Kentucky lifted its stake in Boston Scientific by 74.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 911,657 shares of the medical equipment provider’s stock worth $22,600,000 after purchasing an additional 388,577 shares in the last quarter. Finally, HBK Investments L P bought a new position in shares of Boston Scientific during the fourth quarter valued at approximately $2,516,000. Institutional investors and hedge funds own 91.05% of the company’s stock.
In other news, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $27.22, for a total value of $136,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maulik Nanavaty sold 15,568 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $25.38, for a total transaction of $395,115.84. The disclosure for this sale can be found here. Insiders have sold a total of 238,903 shares of company stock valued at $6,497,699 in the last quarter. 0.73% of the stock is currently owned by company insiders.
A number of research firms have recently issued reports on BSX. Bank of America increased their price objective on shares of Boston Scientific from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Thursday, April 5th. ValuEngine cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Needham & Company LLC reissued a “buy” rating and set a $35.00 target price on shares of Boston Scientific in a research report on Tuesday, March 27th. Morgan Stanley raised their price target on shares of Boston Scientific from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Monday, March 19th. Finally, TheStreet cut shares of Boston Scientific from a “b” rating to a “c” rating in a report on Monday, March 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $31.45.
Shares of Boston Scientific stock traded up $0.30 on Thursday, reaching $28.23. The company had a trading volume of 11,783,864 shares, compared to its average volume of 8,089,574. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.49 and a current ratio of 0.68. The company has a market capitalization of $38,360.02, a price-to-earnings ratio of 22.40, a price-to-earnings-growth ratio of 2.02 and a beta of 0.81. Boston Scientific Co. has a 52-week low of $24.31 and a 52-week high of $29.93.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34. Boston Scientific had a net margin of 1.15% and a return on equity of 24.27%. The firm had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. equities analysts expect that Boston Scientific Co. will post 1.37 earnings per share for the current year.
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Boston Scientific 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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