BB&T Securities LLC trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,903 shares of the medical equipment provider’s stock after selling 4,258 shares during the period. BB&T Securities LLC’s holdings in Boston Scientific were worth $879,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. West Oak Capital LLC boosted its stake in Boston Scientific by 40.0% in the 4th quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 300 shares during the period. Quadrant Capital Group LLC boosted its stake in Boston Scientific by 4.8% in the 4th quarter. Quadrant Capital Group LLC now owns 6,532 shares of the medical equipment provider’s stock worth $215,000 after purchasing an additional 302 shares during the period. Reynders McVeigh Capital Management LLC boosted its stake in Boston Scientific by 1.8% in the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 19,701 shares of the medical equipment provider’s stock worth $758,000 after purchasing an additional 350 shares during the period. CWM LLC boosted its stake in Boston Scientific by 54.3% in the 4th quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 359 shares during the period. Finally, Grimes & Company Inc. boosted its stake in Boston Scientific by 4.2% in the 4th quarter. Grimes & Company Inc. now owns 10,479 shares of the medical equipment provider’s stock worth $370,000 after purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 91.60% of the company’s stock.
A number of equities analysts recently commented on the stock. Oppenheimer set a $38.00 price objective on shares of Boston Scientific and gave the stock a “hold” rating in a research note on Wednesday, October 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 price objective on shares of Boston Scientific in a research note on Tuesday, January 8th. Zacks Investment Research lowered shares of Boston Scientific from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Cowen set a $42.00 price objective on shares of Boston Scientific and gave the stock a “buy” rating in a research note on Monday, October 22nd. Finally, Canaccord Genuity lifted their target price on shares of Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, October 25th. Three research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $40.54.
Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.57 billion. Boston Scientific had a net margin of 17.01% and a return on equity of 26.80%. Boston Scientific’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. Equities analysts forecast that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.
In other news, EVP Joseph Michael Fitzgerald sold 44,236 shares of the firm’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $40.00, for a total transaction of $1,769,440.00. Following the transaction, the executive vice president now owns 242,176 shares in the company, valued at approximately $9,687,040. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Francis Yves Thepaut sold 15,298 shares of the firm’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $36.74, for a total transaction of $562,048.52. Following the transaction, the senior vice president now owns 98,884 shares in the company, valued at approximately $3,632,998.16. The disclosure for this sale can be found here. Insiders have sold a total of 112,502 shares of company stock worth $4,245,299 in the last 90 days. 0.73% of the stock is owned by insiders.
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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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