Boston Scientific Co. (BSX) Position Reduced by Man Group plc

Man Group plc lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 38.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 775,453 shares of the medical equipment provider’s stock after selling 483,565 shares during the period. Man Group plc owned 0.06% of Boston Scientific worth $29,856,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of BSX. Bainco International Investors grew its stake in Boston Scientific by 0.8% during the second 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. First Trust Advisors LP lifted its position in Boston Scientific by 1,304.9% during the second quarter. First Trust Advisors LP now owns 267,753 shares of the medical equipment provider’s stock valued at $8,756,000 after purchasing an additional 248,695 shares during the last quarter. Alps Advisors Inc. lifted its position in Boston Scientific by 63.7% during the second quarter. Alps Advisors Inc. now owns 11,994 shares of the medical equipment provider’s stock valued at $392,000 after purchasing an additional 4,666 shares during the last quarter. HL Financial Services LLC bought a new stake in Boston Scientific during the second quarter valued at approximately $458,000. Finally, CIBC World Markets Inc. lifted its position in Boston Scientific by 22.0% during the second quarter. CIBC World Markets Inc. now owns 16,175 shares of the medical equipment provider’s stock valued at $529,000 after purchasing an additional 2,919 shares during the last quarter. 90.85% of the stock is owned by institutional investors.

Shares of BSX opened at $35.80 on Friday. The company has a market capitalization of $49.54 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 2.36 and a beta of 0.70. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.78 and a quick ratio of 0.56. Boston Scientific Co. has a fifty-two week low of $24.79 and a fifty-two week high of $39.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data 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 during 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 business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.31 EPS. Equities research analysts expect that Boston Scientific Co. will post 1.39 earnings per share for the current year.

In other news, SVP Wendy Carruthers sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 2nd. The shares were sold at an average price of $36.64, for a total value of $54,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael F. Mahoney sold 116,666 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $38.80, for a total transaction of $4,526,640.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 346,161 shares of company stock valued at $13,009,952. Company insiders own 0.73% of the company’s stock.

BSX has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and lifted their target price for the company from $34.00 to $42.00 in a research report on Tuesday, September 4th. Barclays initiated coverage on shares of Boston Scientific in a research report on Monday, October 15th. They set an “overweight” rating and a $43.00 target price for the company. Morgan Stanley lifted their target price on shares of Boston Scientific from $38.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, October 2nd. Wells Fargo & Co lifted their target price on shares of Boston Scientific from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Finally, Needham & Company LLC reiterated a “strong-buy” rating and set a $43.00 target price (up from $39.00) on shares of Boston Scientific in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $39.54.

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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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