Factory Mutual Insurance Co. held its position in Boston Scientific Corporation (NYSE:BSX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 550,000 shares of the medical equipment provider’s stock at the end of the second quarter. Factory Mutual Insurance Co.’s holdings in Boston Scientific Corporation were worth $15,246,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC raised its position in Boston Scientific Corporation by 29.0% in the first quarter. Quantitative Systematic Strategies LLC now owns 107,745 shares of the medical equipment provider’s stock worth $2,680,000 after buying an additional 24,228 shares during the period. DnB Asset Management AS increased its stake in Boston Scientific Corporation by 12.3% in the first quarter. DnB Asset Management AS now owns 137,750 shares of the medical equipment provider’s stock worth $3,426,000 after buying an additional 15,100 shares in the last quarter. Private Wealth Partners LLC increased its stake in Boston Scientific Corporation by 3.4% in the first quarter. Private Wealth Partners LLC now owns 207,266 shares of the medical equipment provider’s stock worth $5,155,000 after buying an additional 6,796 shares in the last quarter. Bank of Montreal Can increased its stake in Boston Scientific Corporation by 2.3% in the first quarter. Bank of Montreal Can now owns 511,136 shares of the medical equipment provider’s stock worth $12,711,000 after buying an additional 11,611 shares in the last quarter. Finally, WCM Investment Management CA increased its stake in Boston Scientific Corporation by 0.7% in the first quarter. WCM Investment Management CA now owns 1,866,739 shares of the medical equipment provider’s stock worth $46,426,000 after buying an additional 13,459 shares in the last quarter. 92.04% of the stock is owned by hedge funds and other institutional investors.
Shares of Boston Scientific Corporation (NYSE:BSX) traded down 0.29% during midday trading on Monday, hitting $27.51. The stock had a trading volume of 1,755,802 shares. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $28.51. The firm’s 50 day moving average price is $27.37 and its 200 day moving average price is $25.02. The firm has a market cap of $37.67 billion, a price-to-earnings ratio of 88.17 and a beta of 1.10.
Boston Scientific Corporation (NYSE:BSX) last released its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.01. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.08 billion. Boston Scientific Corporation had a net margin of 5.07% and a return on equity of 23.45%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 EPS. On average, equities research analysts expect that Boston Scientific Corporation will post $1.25 earnings per share for the current year.
BSX has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Zacks Investment Research upgraded Boston Scientific Corporation from a “sell” rating to a “hold” rating in a research report on Monday, April 24th. BidaskClub downgraded Boston Scientific Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday. TheStreet downgraded Boston Scientific Corporation from a “b” rating to a “c+” rating in a research report on Thursday, March 16th. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on Boston Scientific Corporation in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $28.00 target price on the stock. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.50.
In other Boston Scientific Corporation news, EVP Michael P. Phalen sold 34,773 shares of the business’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $26.00, for a total value of $904,098.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Pratt sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $26.37, for a total value of $263,700.00. Following the completion of the sale, the executive vice president now directly owns 225,846 shares in the company, valued at approximately $5,955,559.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,421 shares of company stock worth $4,057,548. Corporate insiders own 0.74% of the company’s stock.
Boston Scientific Corporation Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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