Securian Asset Management Inc boosted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 1.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 146,434 shares of the medical equipment provider’s stock after purchasing an additional 1,602 shares during the quarter. Securian Asset Management Inc’s holdings in Boston Scientific were worth $6,294,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Investors Research Corp raised its holdings 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 buying an additional 500 shares during the period. Next Capital Management LLC acquired a new stake in Boston Scientific during the 2nd quarter worth about $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its holdings 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 buying an additional 300 shares during the period. Essex Savings Bank acquired a new stake in Boston Scientific during the 1st quarter worth about $31,000. Finally, Westside Investment Management Inc. acquired a new position in shares of Boston Scientific in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Needham & Company LLC set a $46.00 target price on Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Canaccord Genuity upped their target price on Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Co upped their target price on Boston Scientific from $42.00 to $45.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Evercore ISI upgraded Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price on the stock in a report on Monday, May 13th. Finally, Leerink Swann set a $50.00 target price on Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Boston Scientific presently has an average rating of “Buy” and a consensus target price of $44.91.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings results 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. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Boston Scientific had a return on equity of 23.29% and a net margin of 13.85%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 EPS. As a group, analysts expect that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.
In related news, EVP David A. Pierce sold 5,140 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $38.45, for a total value of $197,633.00. Following the completion of the sale, the executive vice president now owns 27,173 shares of the company’s stock, valued at approximately $1,044,801.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jodi Euerle Eddy sold 7,803 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $38.42, for a total value of $299,791.26. Following the completion of the sale, the senior vice president now directly owns 88,978 shares of the company’s stock, valued at approximately $3,418,534.76. The disclosure for this sale can be found here. In the last three months, insiders sold 63,289 shares of company stock valued at $2,611,790. 0.66% of the stock is currently owned by company insiders.
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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