Welch & Forbes LLC increased its holdings in Boston Scientific Co. (NYSE:BSX) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 397,595 shares of the medical equipment provider’s stock after purchasing an additional 2,375 shares during the period. Welch & Forbes LLC’s holdings in Boston Scientific were worth $16,179,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Investors Research Corp raised its position in Boston Scientific by 333.3% in the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 500 shares in the last quarter. Next Capital Management LLC acquired a new position in Boston Scientific in the second quarter worth about $29,000. Westside Investment Management Inc. acquired a new position in Boston Scientific in the second quarter worth about $31,000. NEXT Financial Group Inc raised its position in Boston Scientific by 222.3% in the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 538 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA acquired a new position in Boston Scientific in the second quarter worth about $34,000. 91.47% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE BSX traded up $0.56 during mid-day trading on Friday, hitting $38.54. 698,729 shares of the stock were exchanged, compared to its average volume of 6,551,378. The company has a market cap of $52.75 billion, a P/E ratio of 26.22, a PEG ratio of 2.26 and a beta of 0.78. The stock’s fifty day simple moving average is $41.66 and its two-hundred day simple moving average is $40.28. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.31. Boston Scientific Co. has a twelve month low of $31.56 and a twelve month high of $43.84.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The company’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. As a group, equities research analysts predict that Boston Scientific Co. will post 1.56 earnings per share for the current fiscal year.
BSX has been the subject of several recent research reports. Barclays reissued an “overweight” rating and issued a $48.00 price target on shares of Boston Scientific in a research report on Tuesday, September 3rd. Piper Jaffray Companies set a $50.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus set a $47.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Friday, September 6th. Jefferies Financial Group increased their price target on shares of Boston Scientific from $44.00 to $48.00 and gave the stock a “positive” rating in a research report on Thursday, June 27th. Finally, Needham & Company LLC set a $46.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Three investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. Boston Scientific currently has an average rating of “Buy” and an average target price of $45.68.
In related news, SVP Maulik Nanavaty sold 34,035 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $42.65, for a total value of $1,451,592.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Arthur C. Butcher sold 6,329 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $41.98, for a total transaction of $265,691.42. The disclosure for this sale can be found here. In the last three months, insiders sold 95,177 shares of company stock valued at $3,947,743. 0.66% of the stock is currently owned by company insiders.
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 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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