Northpointe Capital LLC Takes $2.41 Million Position in Boston Scientific Co. (BSX)

Northpointe Capital LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 62,774 shares of the medical equipment provider’s stock, valued at approximately $2,409,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. lifted its position in Boston Scientific by 3.7% in the 4th quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock valued at $4,117,428,000 after acquiring an additional 4,195,164 shares in the last quarter. Vanguard Group Inc lifted its position in 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 valued at $3,905,954,000 after acquiring an additional 1,367,053 shares in the last quarter. Geode Capital Management LLC lifted its position in Boston Scientific by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock valued at $599,030,000 after acquiring an additional 1,724,046 shares in the last quarter. Northern Trust Corp lifted its position in Boston Scientific by 4.0% in the 4th quarter. Northern Trust Corp now owns 15,530,876 shares of the medical equipment provider’s stock valued at $548,860,000 after acquiring an additional 596,703 shares in the last quarter. Finally, Norges Bank bought a new position in Boston Scientific in the 4th quarter valued at about $468,943,000. 91.70% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:BSX traded down $0.58 during mid-day trading on Wednesday, reaching $35.60. The company had a trading volume of 5,466,628 shares, compared to its average volume of 6,543,217. 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 stock has a market capitalization of $50.29 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87. Boston Scientific Co. has a one year low of $27.91 and a one year high of $41.00.

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

Several brokerages recently weighed in on BSX. Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “hold” rating in a research report on Monday, January 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a research report on Friday, February 8th. Argus raised their price target on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, February 13th. Guggenheim reaffirmed a “buy” rating and issued a $48.00 price target on shares of Boston Scientific in a research report on Friday, February 8th. Finally, Canaccord Genuity reissued a “buy” rating and set a $45.00 target price on shares of Boston Scientific in a research report on Monday, February 11th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $40.72.

In related news, SVP Maulik Nanavaty sold 3,039 shares of Boston Scientific stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $37.81, for a total value of $114,904.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Xin Warren Wang sold 10,000 shares of Boston Scientific stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.31, for a total transaction of $403,100.00. The disclosure for this sale can be found here. Insiders sold a total of 342,352 shares of company stock worth $13,701,434 in the last ninety days. 0.66% of the stock is currently owned by insiders.

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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: 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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