Nicola Wealth Management LTD. raised its position in Boston Scientific Co. (NYSE:BSX) by 10.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 110,000 shares of the medical equipment provider’s stock after purchasing an additional 10,000 shares during the period. Nicola Wealth Management LTD.’s holdings in Boston Scientific were worth $4,235,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Investments LLC purchased a new position in Boston Scientific during the 2nd quarter worth approximately $203,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH purchased a new position in Boston Scientific during the 2nd quarter worth approximately $2,931,000. Amalgamated Bank grew its position in Boston Scientific by 2.9% during the 2nd quarter. Amalgamated Bank now owns 206,314 shares of the medical equipment provider’s stock worth $6,746,000 after purchasing an additional 5,753 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Boston Scientific by 63.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock worth $10,462,000 after purchasing an additional 124,350 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in Boston Scientific during the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 91.27% of the company’s stock.
Several research firms have recently commented on BSX. Morgan Stanley boosted their price target on shares of Boston Scientific from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. Argus boosted their price target on shares of Boston Scientific from $41.00 to $43.00 and gave the company a “buy” rating in a report on Friday, October 26th. Piper Jaffray Companies boosted their price target on shares of Boston Scientific to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. Jefferies Financial Group restated a “hold” rating and set a $34.00 price target on shares of Boston Scientific in a report on Thursday, July 26th. Finally, Stifel Nicolaus restated a “buy” rating and set a $37.00 price target on shares of Boston Scientific in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $39.00.
Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same quarter in the previous year, the business earned $0.31 EPS. Boston Scientific’s quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that Boston Scientific Co. will post 1.39 earnings per share for the current year.
In related news, Chairman Michael F. Mahoney sold 116,666 shares of Boston Scientific stock in a transaction on Monday, September 10th. The shares were sold at an average price of $35.88, for a total value of $4,185,976.08. Following the completion of the sale, the chairman now owns 2,023,104 shares of the company’s stock, valued at approximately $72,588,971.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Arthur C. Butcher sold 4,000 shares of Boston Scientific stock in a transaction on Friday, November 9th. The shares were sold at an average price of $38.50, for a total transaction of $154,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 417,928 shares of company stock valued at $15,499,426. 0.73% of the stock is 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: 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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