Rathbone Brothers plc acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 78,071 shares of the medical equipment provider’s stock, valued at approximately $3,006,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. lifted its stake in Boston Scientific by 7.8% in the second quarter. Sei Investments Co. now owns 3,853,853 shares of the medical equipment provider’s stock valued at $126,021,000 after buying an additional 278,777 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Boston Scientific by 63.6% in the second quarter. Nisa Investment Advisors LLC now owns 319,940 shares of the medical equipment provider’s stock valued at $10,462,000 after purchasing an additional 124,350 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Boston Scientific by 3.1% in the second quarter. Cubist Systematic Strategies LLC now owns 51,105 shares of the medical equipment provider’s stock valued at $1,671,000 after purchasing an additional 1,547 shares during the period. Waddell & Reed Financial Inc. acquired a new position in shares of Boston Scientific in the second quarter valued at approximately $5,559,000. Finally, Stevens Capital Management LP acquired a new position in shares of Boston Scientific in the second quarter valued at approximately $1,493,000. Institutional investors own 90.93% of the company’s stock.
In related news, Chairman Michael F. Mahoney sold 116,666 shares of the company’s stock in a transaction 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 transaction, the chairman now owns 2,023,104 shares of the company’s stock, valued at $72,588,971.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Bradley Sorenson sold 10,000 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $35.86, for a total value of $358,600.00. Following the transaction, the senior vice president now directly owns 44,636 shares in the company, valued at approximately $1,600,646.96. The disclosure for this sale can be found here. Insiders have sold 295,834 shares of company stock worth $11,038,468 in the last ninety days. 0.73% of the stock is currently owned by corporate insiders.
BSX has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Boston Scientific in a report on Wednesday, June 27th. They issued an “outperform” rating and a $38.00 target price on the stock. Needham & Company LLC reissued a “strong-buy” rating on shares of Boston Scientific in a report on Friday, July 6th. BMO Capital Markets boosted their target price on Boston Scientific to $36.00 and gave the company an “outperform” rating in a report on Tuesday, July 10th. Zacks Investment Research lowered Boston Scientific from a “buy” rating to a “sell” rating in a report on Tuesday, July 17th. Finally, SunTrust Banks boosted their target price on Boston Scientific to $39.00 and gave the company a “buy” rating in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Boston Scientific has a consensus rating of “Buy” and a consensus target price of $36.87.
Shares of BSX stock opened at $36.99 on Friday. Boston Scientific Co. has a 1-year low of $24.54 and a 1-year high of $39.44. The firm has a market cap of $53.24 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.68 and a beta of 0.59. The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.62.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. Boston Scientific’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts predict that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.
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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