Trexquant Investment LP trimmed its holdings in Boston Scientific Co. (NYSE:BSX) by 62.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,158 shares of the medical equipment provider’s stock after selling 106,782 shares during the period. Trexquant Investment LP’s holdings in Boston Scientific were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in BSX. BlackRock Inc. lifted its stake in shares of Boston Scientific by 8.7% in the first quarter. BlackRock Inc. now owns 106,292,471 shares of the medical equipment provider’s stock valued at $2,903,912,000 after buying an additional 8,510,783 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Boston Scientific by 531.8% during the second quarter. TD Asset Management Inc. now owns 2,488,256 shares of the medical equipment provider’s stock valued at $81,366,000 after purchasing an additional 2,094,436 shares in the last quarter. Eaton Vance Management lifted its position in shares of Boston Scientific by 42.3% during the first quarter. Eaton Vance Management now owns 6,564,617 shares of the medical equipment provider’s stock valued at $179,345,000 after purchasing an additional 1,951,777 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new position in shares of Boston Scientific during the first quarter valued at about $33,890,000. Finally, Bodenholm Capital AB bought a new position in shares of Boston Scientific during the first quarter valued at about $32,975,000. 88.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $33.66, for a total transaction of $168,300.00. Following the completion of the sale, the executive vice president now owns 29,201 shares in the company, valued at $982,905.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kevin J. Ballinger sold 68,486 shares of the firm’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $34.12, for a total transaction of $2,336,742.32. The disclosure for this sale can be found here. Insiders have sold 138,043 shares of company stock valued at $4,643,533 in the last 90 days. 0.73% of the stock is currently owned by corporate insiders.
NYSE BSX opened at $34.41 on Monday. Boston Scientific Co. has a 52-week low of $24.54 and a 52-week high of $37.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.60. The stock has a market cap of $46.40 billion, a P/E ratio of 27.31, a P/E/G ratio of 2.45 and a beta of 0.65.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. Boston Scientific had a net margin of 5.48% and a return on equity of 26.35%. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. equities research analysts anticipate that Boston Scientific Co. will post 1.38 EPS for the current year.
A number of research analysts recently weighed in on BSX shares. TheStreet raised shares of Boston Scientific from a “c” rating to an “a-” rating in a research report on Tuesday, May 29th. Zacks Investment Research raised shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Friday, May 11th. ValuEngine raised shares of Boston Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Citigroup raised their price target on shares of Boston Scientific from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Tuesday, May 1st. Finally, Canaccord Genuity reissued a “buy” rating and set a $36.00 price target on shares of Boston Scientific in a research report on Wednesday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Boston Scientific presently has an average rating of “Buy” and a consensus price target of $34.95.
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: Cardiovascular, Rhythm Management, and MedSurg. 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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