New Mexico Educational Retirement Board reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 2.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,362 shares of the medical equipment provider’s stock after selling 2,400 shares during the period. New Mexico Educational Retirement Board’s holdings in Boston Scientific were worth $4,428,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of BSX. LPL Financial LLC grew its holdings in Boston Scientific by 16.9% during the 3rd quarter. LPL Financial LLC now owns 177,790 shares of the medical equipment provider’s stock worth $6,845,000 after acquiring an additional 25,747 shares during the period. Caxton Associates LP acquired a new stake in Boston Scientific during the 3rd quarter worth about $250,000. Mackenzie Financial Corp grew its holdings in Boston Scientific by 14.3% during the 3rd quarter. Mackenzie Financial Corp now owns 14,063 shares of the medical equipment provider’s stock worth $541,000 after acquiring an additional 1,762 shares during the period. Captrust Financial Advisors grew its stake in shares of Boston Scientific by 195.0% in the 3rd quarter. Captrust Financial Advisors now owns 9,230 shares of the medical equipment provider’s stock valued at $355,000 after buying an additional 6,101 shares during the period. Finally, Amussen Hunsaker Associates LLC grew its stake in shares of Boston Scientific by 100.6% in the 3rd quarter. Amussen Hunsaker Associates LLC now owns 5,913 shares of the medical equipment provider’s stock valued at $214,000 after buying an additional 2,966 shares during the period. Institutional investors own 91.70% of the company’s stock.
Several analysts have recently commented on the company. Zacks Investment Research downgraded Boston Scientific from a “hold” rating to a “sell” rating in a research note on Monday, December 31st. Canaccord Genuity restated a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a research note on Monday, February 11th. Argus raised their target price on Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price on shares of Boston Scientific in a research note on Wednesday, February 6th. Finally, SunTrust Banks restated a “buy” rating and issued a $47.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $40.80.
Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.57 billion. Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 EPS. On average, analysts forecast that Boston Scientific Co. will post 1.55 EPS for the current year.
In other Boston Scientific news, SVP Maulik Nanavaty sold 3,039 shares of Boston Scientific stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $37.81, for a total transaction of $114,904.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $38.82, for a total value of $194,100.00. Following the transaction, the executive vice president now owns 29,201 shares of the company’s stock, valued at approximately $1,133,582.82. The disclosure for this sale can be found here. Insiders have sold a total of 342,352 shares of company stock valued at $13,701,434 in the last quarter. Company insiders own 0.66% of the company’s stock.
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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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