Newport Trust Co Reduces Position in Boston Scientific Co. (NYSE:BSX)

Newport Trust Co trimmed its position in Boston Scientific Co. (NYSE:BSX) by 1.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,663,662 shares of the medical equipment provider’s stock after selling 183,403 shares during the period. Boston Scientific accounts for about 1.0% of Newport Trust Co’s investment portfolio, making the stock its 13th biggest holding. Newport Trust Co owned about 0.69% of Boston Scientific worth $393,214,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. NuWave Investment Management LLC grew its stake in Boston Scientific by 111.4% in the third quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 380 shares in the last quarter. Investors Research Corp grew its stake in Boston Scientific by 333.3% in the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 500 shares in the last quarter. Next Capital Management LLC acquired a new position in Boston Scientific in the second quarter worth about $29,000. Westside Investment Management Inc. acquired a new position in Boston Scientific in the second quarter worth about $31,000. Finally, Optimum Investment Advisors grew its stake in Boston Scientific by 100.0% in the third quarter. Optimum Investment Advisors now owns 800 shares of the medical equipment provider’s stock worth $33,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 91.64% of the company’s stock.

Shares of NYSE BSX traded down $0.21 during midday trading on Friday, hitting $40.51. 3,235,631 shares of the company’s stock were exchanged, compared to its average volume of 7,209,796. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.31 and a quick ratio of 1.04. The stock’s 50 day moving average price is $40.34 and its 200-day moving average price is $40.64. The firm has a market cap of $56.54 billion, a P/E ratio of 27.56, a PEG ratio of 2.27 and a beta of 0.76. Boston Scientific Co. has a twelve month low of $31.56 and a twelve month high of $43.84.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.68 billion. Boston Scientific had a return on equity of 23.47% and a net margin of 10.49%. The business’s revenue was up 13.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.

A number of equities analysts have commented on the company. BTIG Research set a $46.00 target price on Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 24th. Piper Jaffray Companies set a $50.00 target price on Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 24th. Guggenheim set a $53.00 target price on Boston Scientific and gave the company a “buy” rating in a research note on Friday, October 25th. Stifel Nicolaus set a $47.00 target price on Boston Scientific and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Stephens set a $48.00 target price on Boston Scientific and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $47.07.

In other news, SVP Arthur C. Butcher sold 6,329 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $41.98, for a total transaction of $265,691.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel J. Brennan sold 20,462 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $39.44, for a total value of $807,021.28. Following the transaction, the chief financial officer now owns 235,422 shares of the company’s stock, valued at $9,285,043.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,072 shares of company stock valued at $4,188,092. 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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