Highbridge Capital Management LLC bought a new position in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 111,475 shares of the medical equipment provider’s stock, valued at approximately $4,292,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of BSX. Captrust Financial Advisors grew its holdings in shares of Boston Scientific by 103.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock worth $102,000 after purchasing an additional 1,594 shares during the last quarter. Quad Cities Investment Group LLC bought a new stake in shares of Boston Scientific in the 2nd quarter worth about $104,000. Moody National Bank Trust Division bought a new stake in shares of Boston Scientific in the 3rd quarter worth about $108,000. NumerixS Investment Technologies Inc grew its holdings in shares of Boston Scientific by 1,650.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock worth $114,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Vantage Investment Advisors LLC grew its holdings in shares of Boston Scientific by 82.4% in the 3rd quarter. Vantage Investment Advisors LLC now owns 2,989 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 1,350 shares during the last quarter. 90.85% of the stock is currently owned by institutional investors and hedge funds.
BSX has been the topic of several analyst reports. Argus upped their target price on shares of Boston Scientific from $41.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, October 26th. Guggenheim upped their target price on shares of Boston Scientific to $45.00 and gave the stock a “buy” rating in a report on Friday, November 16th. Barclays began coverage on shares of Boston Scientific in a report on Monday, October 15th. They set an “overweight” rating and a $43.00 price objective on the stock. Oppenheimer reissued a “hold” rating on shares of Boston Scientific in a report on Wednesday, November 21st. Finally, BTIG Research reissued a “buy” rating and set a $45.00 price objective on shares of Boston Scientific in a report on Thursday, October 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $39.54.
Boston Scientific (NYSE:BSX) last issued its earnings results 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. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates 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 for the quarter was up 7.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.31 EPS. Analysts expect that Boston Scientific Co. will post 1.39 EPS for the current year.
In other news, SVP Arthur C. Butcher sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 9th. The shares were sold at an average price of $38.50, for a total value of $154,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Bradley Sorenson sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $35.86, for a total transaction of $358,600.00. Following the completion of the transaction, the senior vice president now directly owns 44,636 shares in the company, valued at approximately $1,600,646.96. The disclosure for this sale can be found here. Insiders sold a total of 472,827 shares of company stock worth $17,554,528 in the last ninety days. Insiders own 0.73% of the company’s stock.
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About Boston Scientific
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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