Boston Scientific Co. (NYSE:BSX) Stake Decreased by Brinker Capital Inc.

Brinker Capital Inc. lowered its stake in Boston Scientific Co. (NYSE:BSX) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,011 shares of the medical equipment provider’s stock after selling 1,240 shares during the quarter. Brinker Capital Inc.’s holdings in Boston Scientific were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Parkwood LLC purchased a new position in shares of Boston Scientific during the third quarter valued at approximately $6,250,000. Bellevue Group AG increased its stake in shares of Boston Scientific by 19.3% during the third quarter. Bellevue Group AG now owns 978,929 shares of the medical equipment provider’s stock valued at $37,689,000 after buying an additional 158,333 shares during the period. IFM Investors Pty Ltd increased its stake in shares of Boston Scientific by 9.9% during the fourth quarter. IFM Investors Pty Ltd now owns 79,729 shares of the medical equipment provider’s stock valued at $2,818,000 after buying an additional 7,165 shares during the period. Insight Wealth Strategies LLC purchased a new position in shares of Boston Scientific during the fourth quarter valued at approximately $882,000. Finally, Korea Investment CORP increased its stake in shares of Boston Scientific by 63.9% during the third quarter. Korea Investment CORP now owns 1,920,702 shares of the medical equipment provider’s stock valued at $73,947,000 after buying an additional 748,603 shares during the period. Institutional investors and hedge funds own 91.70% of the company’s stock.

Several equities analysts have recently issued reports on the company. Argus boosted 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. Canaccord Genuity reissued a “buy” rating and set a $45.00 target price on shares of Boston Scientific in a research note on Monday, February 11th. SunTrust Banks reissued a “buy” rating and set a $47.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. Guggenheim restated a “buy” rating and set a $48.00 price target on shares of Boston Scientific in a research report on Friday, February 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $43.00 price target on shares of Boston Scientific in a research report on Wednesday, February 6th. Three 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. Boston Scientific has a consensus rating of “Buy” and an average target price of $40.80.

Boston Scientific stock traded up $0.08 during mid-day trading on Monday, hitting $37.81. The company had a trading volume of 4,554,800 shares, compared to its average volume of 7,039,083. Boston Scientific Co. has a 12 month low of $27.91 and a 12 month high of $41.00. The company has a current ratio of 0.76, a quick ratio of 0.54 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $52.48 billion, a price-to-earnings ratio of 25.72, a price-to-earnings-growth ratio of 2.17 and a beta of 0.87.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts predict that Boston Scientific Co. will post 1.55 EPS for the current year.

In related news, EVP David A. Pierce sold 1,357 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $40.25, for a total transaction of $54,619.25. Following the completion of the sale, the executive vice president now owns 38,940 shares in the company, valued at $1,567,335. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $38.82, for a total value of $194,100.00. Following the sale, 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 sold 342,351 shares of company stock valued at $13,694,257 in the last 90 days. Company insiders own 0.73% 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.

See Also: Outstanding Shares

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

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