Redpoint Investment Management Pty Ltd Acquires 4,411 Shares of Boston Scientific Co. (BSX)

Redpoint Investment Management Pty Ltd increased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 4.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 103,573 shares of the medical equipment provider’s stock after acquiring an additional 4,411 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Boston Scientific were worth $3,660,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. FMR LLC lifted its position in shares of Boston Scientific by 5.5% in the 3rd quarter. FMR LLC now owns 165,239,463 shares of the medical equipment provider’s stock worth $6,361,719,000 after purchasing an additional 8,617,011 shares during the period. BlackRock Inc. lifted its position in shares of Boston Scientific by 2.7% in the 3rd quarter. BlackRock Inc. now owns 112,313,832 shares of the medical equipment provider’s stock worth $4,324,083,000 after purchasing an additional 2,958,437 shares during the period. Vanguard Group Inc lifted its position in shares of Boston Scientific by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 101,453,358 shares of the medical equipment provider’s stock worth $3,905,954,000 after purchasing an additional 1,367,053 shares during the period. Capital Research Global Investors lifted its position in shares of Boston Scientific by 83.3% in the 3rd quarter. Capital Research Global Investors now owns 19,394,528 shares of the medical equipment provider’s stock worth $746,689,000 after purchasing an additional 8,814,601 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Boston Scientific by 24.6% in the 3rd quarter. Alliancebernstein L.P. now owns 6,429,269 shares of the medical equipment provider’s stock worth $247,527,000 after purchasing an additional 1,268,172 shares during the period. Institutional investors and hedge funds own 91.60% of the company’s stock.

In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $38.11, for a total transaction of $190,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xin Warren Wang sold 10,000 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $38.00, for a total transaction of $380,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 91,724 shares of company stock valued at $3,350,373 in the last 90 days. 0.73% of the stock is currently owned by company insiders.

Shares of BSX stock opened at $39.19 on Monday. The firm has a market cap of $54.23 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 2.30 and a beta of 0.83. 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 12 month low of $25.04 and a 12 month high of $39.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.57 billion. Boston Scientific had a net margin of 17.01% and a return on equity of 26.80%. Boston Scientific’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. Analysts forecast that Boston Scientific Co. will post 1.56 EPS for the current year.

A number of brokerages have recently issued reports on BSX. SunTrust Banks restated a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a research report on Friday. Guggenheim restated a “buy” rating and issued a $48.00 price target on shares of Boston Scientific in a research report on Friday. Needham & Company LLC restated a “buy” rating and issued a $43.00 price target on shares of Boston Scientific in a research report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Boston Scientific from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. Finally, Credit Suisse Group initiated coverage on shares of Boston Scientific in a research report on Monday, December 17th. They set an “outperform” rating and a $42.00 target price on the stock. Three analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $40.35.

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Boston Scientific Company 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.

Further Reading: NASDAQ

Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).

Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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