First Mercantile Trust Co. lowered its holdings in Boston Scientific Corporation (NYSE:BSX) by 64.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,950 shares of the medical equipment provider’s stock after selling 14,450 shares during the period. First Mercantile Trust Co.’s holdings in Boston Scientific were worth $197,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in BSX. Raymond James Financial Services Advisors Inc. grew its position in Boston Scientific by 2.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 44,496 shares of the medical equipment provider’s stock valued at $1,233,000 after purchasing an additional 1,178 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in Boston Scientific by 80.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 16,800 shares of the medical equipment provider’s stock valued at $466,000 after purchasing an additional 7,507 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in Boston Scientific in the second quarter valued at $40,460,000. Sit Investment Associates Inc. grew its position in Boston Scientific by 37.8% in the third quarter. Sit Investment Associates Inc. now owns 141,710 shares of the medical equipment provider’s stock valued at $4,134,000 after purchasing an additional 38,855 shares in the last quarter. Finally, Shell Asset Management Co. grew its position in Boston Scientific by 80.6% in the third quarter. Shell Asset Management Co. now owns 291,111 shares of the medical equipment provider’s stock valued at $3,438,000 after purchasing an additional 129,930 shares in the last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on BSX. Jefferies Group reaffirmed a “neutral” rating on shares of Boston Scientific in a research report on Friday, February 2nd. TheStreet raised shares of Boston Scientific from a “c+” rating to a “b” rating in a research report on Thursday, January 18th. Barclays reissued a “buy” rating and issued a $32.00 price objective on shares of Boston Scientific in a research report on Wednesday, January 10th. Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, BMO Capital Markets lifted their target price on shares of Boston Scientific from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $31.00.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Thursday, February 1st. The medical equipment provider reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34. Boston Scientific had a net margin of 1.15% and a return on equity of 24.04%. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s revenue was up 9.9% on a year-over-year basis. equities analysts expect that Boston Scientific Corporation will post 1.37 earnings per share for the current fiscal year.
In other news, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $26.66, for a total value of $413,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP David A. Pierce sold 5,152 shares of the business’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $27.00, for a total transaction of $139,104.00. Following the completion of the transaction, the senior vice president now owns 38,116 shares of the company’s stock, valued at $1,029,132. The disclosure for this sale can be found here. Insiders sold a total of 177,032 shares of company stock valued at $4,648,733 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
Boston Scientific 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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