Empirical Finance LLC Buys 2,206 Shares of Boston Scientific Co. (NYSE:BSX)

Empirical Finance LLC raised its stake in Boston Scientific Co. (NYSE:BSX) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,701 shares of the medical equipment provider’s stock after purchasing an additional 2,206 shares during the period. Empirical Finance LLC’s holdings in Boston Scientific were worth $714,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC acquired a new stake in shares of Boston Scientific in the 1st quarter valued at about $27,000. Cypress Point Wealth Management LLC bought a new position in Boston Scientific in the second quarter worth approximately $30,000. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Boston Scientific by 1,178.2% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 703 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 648 shares in the last quarter. Bbva USA bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $36,000. Finally, Credit Agricole S A bought a new position in shares of Boston Scientific in the 1st quarter worth $39,000. Hedge funds and other institutional investors own 89.80% of the company’s stock.

BSX has been the topic of a number of analyst reports. Barclays assumed coverage on shares of Boston Scientific in a report on Monday, May 24th. They issued an “overweight” rating and a $51.00 target price on the stock. Zacks Investment Research downgraded Boston Scientific from a “buy” rating to a “hold” rating and set a $48.00 price objective for the company. in a research note on Monday, August 2nd. Needham & Company LLC set a $42.74 price objective on Boston Scientific and gave the company a “hold” rating in a research note on Thursday, July 15th. Argus upped their price objective on Boston Scientific from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, June 7th. Finally, Raymond James increased their price target on Boston Scientific from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 28th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $48.65.

In related news, SVP Meghan Scanlon sold 16,450 shares of the company’s stock in a transaction dated Thursday, June 24th. The shares were sold at an average price of $44.03, for a total transaction of $724,293.50. Following the transaction, the senior vice president now directly owns 34,280 shares in the company, valued at approximately $1,509,348.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael F. Mahoney sold 201,041 shares of the stock in a transaction on Tuesday, July 6th. The stock was sold at an average price of $43.41, for a total value of $8,727,189.81. Following the completion of the sale, the chief executive officer now owns 2,081,822 shares in the company, valued at approximately $90,371,893.02. The disclosure for this sale can be found here. Insiders sold a total of 595,010 shares of company stock valued at $26,297,956 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

NYSE:BSX opened at $44.85 on Wednesday. Boston Scientific Co. has a one year low of $32.99 and a one year high of $46.28. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.66 and a quick ratio of 1.31. The firm has a market capitalization of $63.86 billion, a P/E ratio of 135.91, a PEG ratio of 2.93 and a beta of 0.88. The company’s 50-day simple moving average is $44.30 and its 200 day simple moving average is $42.32.

Boston Scientific (NYSE:BSX) last issued its earnings results on Monday, July 26th. The medical equipment provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The business had revenue of $3.08 billion during the quarter, compared to analyst estimates of $2.94 billion. Boston Scientific had a return on equity of 12.67% and a net margin of 4.56%. Boston Scientific’s revenue was up 53.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, equities research analysts expect that Boston Scientific Co. will post 1.61 earnings per share for the current fiscal year.

Boston Scientific Profile

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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