Tocqueville Asset Management L.P. Reduces Holdings in Boston Scientific Co. (NYSE:BSX)

Tocqueville Asset Management L.P. trimmed its stake in Boston Scientific Co. (NYSE:BSX) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,385 shares of the medical equipment provider’s stock after selling 2,765 shares during the period. Tocqueville Asset Management L.P.’s holdings in Boston Scientific were worth $4,830,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSX. Investors Research Corp grew its position in Boston Scientific by 333.3% during the 2nd quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 500 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Boston Scientific during the 2nd quarter worth $31,000. NEXT Financial Group Inc grew its position in Boston Scientific by 222.3% during the 2nd quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 538 shares during the last quarter. Essex Savings Bank purchased a new position in Boston Scientific during the 1st quarter worth $31,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Boston Scientific by 60.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE BSX traded down $0.82 during midday trading on Wednesday, hitting $42.04. The company had a trading volume of 91,407 shares, compared to its average volume of 7,368,634. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.31 and a quick ratio of 1.04. Boston Scientific Co. has a twelve month low of $31.56 and a twelve month high of $43.66. The firm has a 50-day simple moving average of $42.52. The firm has a market cap of $59.17 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 2.59 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Research analysts forecast that Boston Scientific Co. will post 1.56 earnings per share for the current fiscal year.

Several brokerages have issued reports on BSX. Wells Fargo & Co raised their price objective on shares of Boston Scientific from $42.00 to $45.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 18th. Evercore ISI raised shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 price objective on the stock in a research report on Monday, May 13th. Canaccord Genuity lifted their target price on shares of Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Jefferies Financial Group lifted their target price on shares of Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, June 27th. Finally, BTIG Research set a $46.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.91.

In other Boston Scientific news, SVP Jodi Euerle Eddy sold 7,803 shares of Boston Scientific stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $38.42, for a total transaction of $299,791.26. Following the completion of the transaction, the senior vice president now owns 88,978 shares in the company, valued at $3,418,534.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 1,906 shares of Boston Scientific stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $43.00, for a total transaction of $81,958.00. Following the transaction, the executive vice president now owns 226,835 shares of the company’s stock, valued at approximately $9,753,905. The disclosure for this sale can be found here. Insiders sold 57,289 shares of company stock valued at $2,355,050 in the last quarter. Company insiders own 0.66% 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: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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