Scotia Capital Inc. Increases Stock Position in Boston Scientific Co. (NYSE:BSX)

Scotia Capital Inc. boosted its stake in Boston Scientific Co. (NYSE:BSX) by 325.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,277 shares of the medical equipment provider’s stock after purchasing an additional 38,470 shares during the quarter. Scotia Capital Inc.’s holdings in Boston Scientific were worth $2,162,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BSX. Geode Capital Management LLC raised its position in shares of Boston Scientific by 11.3% during the 4th quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock valued at $599,030,000 after buying an additional 1,724,046 shares in the last quarter. Cornerstone Advisors Inc. raised its position in shares of Boston Scientific by 16.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,829 shares of the medical equipment provider’s stock valued at $109,000 after buying an additional 409 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Boston Scientific by 378.7% during the 1st quarter. Victory Capital Management Inc. now owns 97,629 shares of the medical equipment provider’s stock valued at $3,747,000 after buying an additional 77,236 shares in the last quarter. Bbva Compass Bancshares Inc. raised its position in shares of Boston Scientific by 25.1% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 7,627 shares of the medical equipment provider’s stock valued at $293,000 after buying an additional 1,530 shares in the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Boston Scientific by 58.5% during the 1st quarter. Systematic Financial Management LP now owns 16,250 shares of the medical equipment provider’s stock valued at $624,000 after buying an additional 6,000 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company’s stock.

Boston Scientific stock traded down $0.43 during midday trading on Friday, reaching $41.81. The stock had a trading volume of 4,318,272 shares, compared to its average volume of 4,629,350. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific Co. has a 52-week low of $31.56 and a 52-week high of $43.84. The firm has a market cap of $58.92 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 2.53 and a beta of 0.82. The company has a fifty day moving average of $42.37 and a 200 day moving average of $40.09.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the company posted $0.41 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts predict that Boston Scientific Co. will post 1.56 EPS for the current year.

Several analysts have recently issued reports on the stock. Needham & Company LLC set a $46.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group upped their target price on shares of Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, June 27th. BTIG Research set a $46.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. Canaccord Genuity upped their target price on shares of Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Raymond James upped their target price on shares of Boston Scientific from $48.00 to $50.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $45.30.

In related news, SVP Maulik Nanavaty sold 34,035 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $42.65, for a total value of $1,451,592.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John Bradley Sorenson sold 3,728 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $42.30, for a total transaction of $157,694.40. Following the completion of the transaction, the senior vice president now owns 48,385 shares in the company, valued at $2,046,685.50. The disclosure for this sale can be found here. Insiders sold a total of 85,710 shares of company stock worth $3,659,649 over the last three months. 0.66% of the stock is currently owned by corporate insiders.

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: 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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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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