BlueMountain Capital Management LLC Sells 53,422 Shares of Boston Scientific Co. (BSX)

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BlueMountain Capital Management LLC lowered its stake in Boston Scientific Co. (NYSE:BSX) by 24.8% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 162,079 shares of the medical equipment provider’s stock after selling 53,422 shares during the period. BlueMountain Capital Management LLC’s holdings in Boston Scientific were worth $5,300,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its position in Boston Scientific by 103.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock valued at $102,000 after acquiring an additional 1,594 shares in the last quarter. Somerset Group LLC lifted its position in Boston Scientific by 3.4% in the 2nd quarter. Somerset Group LLC now owns 49,838 shares of the medical equipment provider’s stock valued at $1,630,000 after acquiring an additional 1,638 shares in the last quarter. Bainco International Investors lifted its position in Boston Scientific by 0.8% in the 2nd quarter. Bainco International Investors now owns 208,514 shares of the medical equipment provider’s stock valued at $6,818,000 after acquiring an additional 1,729 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Boston Scientific by 2.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 71,279 shares of the medical equipment provider’s stock valued at $1,947,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in Boston Scientific by 0.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 218,066 shares of the medical equipment provider’s stock valued at $7,131,000 after acquiring an additional 1,876 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

NYSE:BSX opened at $35.99 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $49.18 billion, a PE ratio of 28.44, a P/E/G ratio of 2.60 and a beta of 0.63. Boston Scientific Co. has a one year low of $24.54 and a one year high of $37.30.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.47 billion. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. Boston Scientific’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 EPS. sell-side analysts expect that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.

Several equities analysts have recently weighed in on BSX shares. TheStreet raised Boston Scientific from a “c” rating to an “a-” rating in a report on Tuesday, May 29th. Zacks Investment Research raised Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, May 21st. ValuEngine raised Boston Scientific from a “hold” rating to a “buy” rating in a report on Monday, June 11th. Argus increased their price target on Boston Scientific from $32.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, June 7th. Finally, SunTrust Banks increased their price target on Boston Scientific to $39.00 and gave the company a “buy” rating in a report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.86.

In other news, EVP Kevin J. Ballinger sold 68,486 shares of the company’s stock in a transaction on Monday, June 11th. The stock was sold at an average price of $34.12, for a total value of $2,336,742.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jeffrey B. Mirviss sold 19,323 shares of the company’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $32.64, for a total value of $630,702.72. The disclosure for this sale can be found here. Insiders sold a total of 136,393 shares of company stock valued at $4,619,864 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

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

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