Dupont Capital Management Corp trimmed its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 9.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 152,137 shares of the medical equipment provider’s stock after selling 15,175 shares during the period. Dupont Capital Management Corp’s holdings in Boston Scientific were worth $5,857,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of BSX. FMR LLC raised its holdings in shares of Boston Scientific by 10.4% during the second quarter. FMR LLC now owns 156,622,452 shares of the medical equipment provider’s stock worth $5,121,554,000 after purchasing an additional 14,711,069 shares during the period. Morgan Stanley raised its holdings in shares of Boston Scientific by 114.6% during the second quarter. Morgan Stanley now owns 7,517,384 shares of the medical equipment provider’s stock worth $245,818,000 after purchasing an additional 4,013,765 shares during the period. Epoch Investment Partners Inc. acquired a new stake in shares of Boston Scientific during the second quarter worth $116,062,000. BlackRock Inc. raised its holdings in shares of Boston Scientific by 2.9% during the second quarter. BlackRock Inc. now owns 109,355,395 shares of the medical equipment provider’s stock worth $3,575,920,000 after purchasing an additional 3,062,924 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Boston Scientific during the third quarter worth $115,618,000. 91.24% of the stock is currently owned by institutional investors.
A number of analysts have weighed in on BSX shares. Zacks Investment Research cut shares of Boston Scientific from a “buy” rating to a “sell” rating in a report on Tuesday, July 17th. SunTrust Banks increased their target price on shares of Boston Scientific to $39.00 and gave the stock a “buy” rating in a report on Monday, July 23rd. Royal Bank of Canada increased their target price on shares of Boston Scientific to $36.00 and gave the stock a “top pick” rating in a report on Monday, July 23rd. Piper Jaffray Companies increased their target price on shares of Boston Scientific to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Finally, Morgan Stanley increased their target price on shares of Boston Scientific from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.00.
Boston Scientific stock opened at $38.60 on Friday. The stock has a market cap of $52.52 billion, a PE ratio of 26.54, a PEG ratio of 2.49 and a beta of 0.68. 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 one year low of $24.54 and a one year high of $39.44.
Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.31 earnings per share. Equities research analysts predict that Boston Scientific Co. will post 1.39 EPS for the current year.
In related news, SVP Wendy Carruthers sold 1,500 shares of the stock in a transaction dated Friday, November 2nd. The shares were sold at an average price of $36.64, for a total value of $54,960.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David A. Pierce sold 5,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $36.02, for a total transaction of $180,100.00. The disclosure for this sale can be found here. Insiders have sold 414,000 shares of company stock valued at $15,347,937 in the last 90 days. Insiders own 0.73% of the company’s stock.
Boston Scientific 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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