Gamco Investors INC. ET AL reduced its stake in Boston Scientific Co. (NYSE:BSX) by 23.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 237,764 shares of the medical equipment provider’s stock after selling 74,300 shares during the period. Gamco Investors INC. ET AL’s holdings in Boston Scientific were worth $9,154,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in BSX. Captrust Financial Advisors grew its position in shares of Boston Scientific by 103.8% during the second quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock worth $102,000 after acquiring an additional 1,594 shares during the last quarter. Quad Cities Investment Group LLC purchased a new position in shares of Boston Scientific during the second quarter worth approximately $104,000. Kaizen Advisory LLC grew its position in shares of Boston Scientific by 146.7% during the second quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock worth $108,000 after acquiring an additional 1,962 shares during the last quarter. Moody National Bank Trust Division purchased a new position in shares of Boston Scientific during the third quarter worth approximately $108,000. Finally, NumerixS Investment Technologies Inc grew its position in shares of Boston Scientific by 1,650.0% during the second quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock worth $114,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 91.24% of the company’s stock.
In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $36.02, for a total value of $180,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Wendy Carruthers sold 1,500 shares of the firm’s stock in a transaction on Friday, November 2nd. The shares were sold at an average price of $36.64, for a total value of $54,960.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 414,000 shares of company stock valued at $15,347,937. Corporate insiders own 0.73% of the company’s stock.
Shares of NYSE BSX opened at $38.60 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.78 and a quick ratio of 0.56. 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 $52.52 billion, a P/E ratio of 26.54, a P/E/G ratio of 2.49 and a beta of 0.68.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $0.31 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, sell-side analysts predict that Boston Scientific Co. will post 1.39 earnings per share for the current fiscal year.
BSX has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and raised their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, September 4th. Wells Fargo & Co raised their target price on shares of Boston Scientific from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley raised their target price on shares of Boston Scientific from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd. Barclays initiated coverage on shares of Boston Scientific in a research report on Monday, October 15th. They set an “overweight” rating and a $43.00 target price on the stock. Finally, Needham & Company LLC restated a “strong-buy” rating and set a $43.00 target price (up from $39.00) on shares of Boston Scientific in a research report on Friday, September 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have assigned a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $39.00.
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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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