Polaris Greystone Financial Group LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, Holdings Channel reports. The firm purchased 115,333 shares of the medical equipment provider’s stock, valued at approximately $4,440,000.
A number of other institutional investors have also recently bought and sold shares of BSX. Captrust Financial Advisors lifted its holdings in shares of Boston Scientific by 103.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 1,594 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at about $104,000. Kaizen Advisory LLC lifted its holdings in shares of Boston Scientific by 146.7% in the 2nd quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 1,962 shares during the period. NumerixS Investment Technologies Inc lifted its holdings in shares of Boston Scientific by 1,650.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock valued at $114,000 after buying an additional 3,300 shares during the period. Finally, Sun Life Financial INC lifted its holdings in shares of Boston Scientific by 2,086.5% in the 2nd quarter. Sun Life Financial INC now owns 3,739 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 3,568 shares during the period. Institutional investors and hedge funds own 91.03% of the company’s stock.
In other Boston Scientific news, Chairman Michael F. Mahoney sold 116,666 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.88, for a total transaction of $4,185,976.08. Following the completion of the sale, the chairman now directly owns 2,023,104 shares in the company, valued at approximately $72,588,971.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $33.66, for a total value of $168,300.00. Following the sale, the executive vice president now owns 29,201 shares of the company’s stock, valued at $982,905.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 295,834 shares of company stock valued at $11,038,468. 0.73% of the stock is owned by company insiders.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.07. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the business earned $0.32 EPS. Boston Scientific’s quarterly revenue was up 10.3% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Co. will post 1.39 earnings per share for the current year.
A number of equities analysts recently weighed in on BSX shares. Morgan Stanley upped their price target on Boston Scientific from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Piper Jaffray Companies upped their price target on Boston Scientific to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $34.00 price target on shares of Boston Scientific in a report on Thursday, July 26th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $37.00 price target on shares of Boston Scientific in a report on Thursday, July 26th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating on shares of Boston Scientific in a report on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $38.22.
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: 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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