Parkwood LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 162,334 shares of the medical equipment provider’s stock, valued at approximately $6,250,000. Boston Scientific makes up approximately 1.1% of Parkwood LLC’s holdings, making the stock its 28th largest holding.
A number of other hedge funds also recently added to or reduced their stakes in BSX. IMA Wealth Inc. boosted its stake in shares of Boston Scientific by 1.1% in the 3rd quarter. IMA Wealth Inc. now owns 117,815 shares of the medical equipment provider’s stock valued at $4,536,000 after purchasing an additional 1,330 shares in the last quarter. Somerset Group LLC raised its holdings in Boston Scientific by 2.7% during the 3rd quarter. Somerset Group LLC now owns 51,174 shares of the medical equipment provider’s stock valued at $1,970,000 after buying an additional 1,336 shares during the last quarter. Vantage Investment Advisors LLC raised its holdings in Boston Scientific by 82.4% during the 3rd quarter. Vantage Investment Advisors LLC now owns 2,989 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 1,350 shares during the last quarter. Synovus Financial Corp raised its holdings in Boston Scientific by 37.2% during the 3rd quarter. Synovus Financial Corp now owns 5,000 shares of the medical equipment provider’s stock valued at $191,000 after buying an additional 1,356 shares during the last quarter. Finally, First American Trust FSB raised its holdings in Boston Scientific by 1.3% during the 3rd quarter. First American Trust FSB now owns 113,375 shares of the medical equipment provider’s stock valued at $4,365,000 after buying an additional 1,470 shares during the last quarter. 92.27% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. BTIG Research reiterated a “buy” rating on shares of Boston Scientific in a report on Wednesday, November 21st. Oppenheimer reiterated a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 21st. Stephens reiterated a “market perform” rating and set a $40.00 price target on shares of Boston Scientific in a report on Monday, November 19th. SunTrust Banks upped their price target on shares of Boston Scientific to $44.00 and gave the company a “buy” rating in a report on Tuesday, November 20th. Finally, Guggenheim upped their price target on shares of Boston Scientific to $45.00 and gave the company a “buy” rating in a report on Friday, November 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.32.
Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.31 EPS. On average, analysts forecast that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.
In other news, SVP Maulik Nanavaty sold 23,458 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $37.28, for a total value of $874,514.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Michael F. Mahoney sold 116,666 shares of the company’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $35.88, for a total transaction of $4,185,976.08. Following the completion of the sale, the chairman now directly owns 2,023,104 shares in the company, valued at $72,588,971.52. The disclosure for this sale can be found here. Insiders sold a total of 441,386 shares of company stock worth $16,373,940 over the last ninety days. Insiders own 0.73% of the company’s stock.
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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