D.A. Davidson & CO. lowered its holdings in Boston Scientific (NYSE:BSX) by 23.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,339 shares of the medical equipment provider’s stock after selling 7,141 shares during the period. D.A. Davidson & CO.’s holdings in Boston Scientific were worth $638,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Truewealth LLC bought a new stake in Boston Scientific in the 4th quarter valued at about $116,000. Icon Wealth Partners LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $117,000. Cerebellum GP LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $126,000. Delpha Capital Management LLC acquired a new position in shares of Boston Scientific in the 4th quarter valued at approximately $135,000. Finally, Alps Advisors Inc. acquired a new position in shares of Boston Scientific in the 1st quarter valued at approximately $200,000. 90.34% of the stock is owned by hedge funds and other institutional investors.
In other Boston Scientific news, SVP Arthur C. Butcher sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $30.06, for a total transaction of $225,450.00. Following the sale, the senior vice president now directly owns 12,484 shares of the company’s stock, valued at approximately $375,269.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David A. Pierce sold 4,508 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $27.54, for a total transaction of $124,150.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 176,512 shares of company stock valued at $5,005,583. 0.73% of the stock is owned by corporate insiders.
Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, April 25th. The medical equipment provider reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Boston Scientific had a net margin of 1.21% and a return on equity of 25.10%. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.29 EPS. research analysts expect that Boston Scientific will post 1.39 earnings per share for the current fiscal year.
BSX has been the subject of several analyst reports. TheStreet upgraded shares of Boston Scientific from a “c+” rating to a “b” rating in a research report on Thursday, January 18th. Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Jefferies Group restated a “neutral” rating on shares of Boston Scientific in a research report on Friday, February 2nd. Piper Jaffray initiated coverage on shares of Boston Scientific in a research report on Friday, February 23rd. They issued an “overweight” rating and a $31.00 target price for the company. Finally, Royal Bank of Canada restated a “top pick” rating and issued a $32.00 target price on shares of Boston Scientific in a research report on Monday, March 5th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $32.23.
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: 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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