DNB Asset Management AS reduced its stake in shares of Boston Scientific Co. (NYSE:BSX) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 350,750 shares of the medical equipment provider’s stock after selling 13,532 shares during the quarter. DNB Asset Management AS’s holdings in Boston Scientific were worth $13,462,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Boston Scientific during the 4th quarter valued at about $468,943,000. Oregon Public Employees Retirement Fund increased its position in Boston Scientific by 7,922.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock valued at $339,000 after buying an additional 11,829,528 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Boston Scientific by 164.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,944,961 shares of the medical equipment provider’s stock valued at $280,775,000 after buying an additional 4,941,897 shares in the last quarter. BlackRock Inc. increased its position in Boston Scientific by 3.7% during the 4th quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock valued at $4,117,428,000 after buying an additional 4,195,164 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new position in Boston Scientific during the 3rd quarter valued at about $87,033,000. Hedge funds and other institutional investors own 91.70% of the company’s stock.
In related news, SVP Xin Warren Wang sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.31, for a total value of $403,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maulik Nanavaty sold 3,038 shares of the stock in a transaction that occurred on Tuesday, January 15th. The shares were sold at an average price of $35.46, for a total value of $107,727.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,351 shares of company stock valued at $13,694,257. Insiders own 0.73% of the company’s stock.
Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $0.34 earnings per share. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, research analysts predict that Boston Scientific Co. will post 1.56 EPS for the current year.
A number of brokerages have recently commented on BSX. Zacks Investment Research downgraded Boston Scientific from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Canaccord Genuity restated a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a research note on Monday, February 11th. Argus upped their target price on Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Boston Scientific in a research note on Wednesday, February 6th. Finally, SunTrust Banks restated a “buy” rating and issued a $47.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $40.80.
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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: 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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