Gamco Investors INC. ET AL Has $8.07 Million Holdings in Boston Scientific Co. (BSX)

Gamco Investors INC. ET AL lessened its holdings in Boston Scientific Co. (NYSE:BSX) by 7.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 210,314 shares of the medical equipment provider’s stock after selling 16,900 shares during the period. Gamco Investors INC. ET AL’s holdings in Boston Scientific were worth $8,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in BSX. 1832 Asset Management L.P. grew its holdings in shares of Boston Scientific by 187.2% in the 4th quarter. 1832 Asset Management L.P. now owns 1,240,550 shares of the medical equipment provider’s stock worth $43,836,000 after purchasing an additional 808,650 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Boston Scientific by 12.9% in the 1st quarter. IFM Investors Pty Ltd now owns 90,005 shares of the medical equipment provider’s stock worth $3,454,000 after purchasing an additional 10,276 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Boston Scientific by 26.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,727,580 shares of the medical equipment provider’s stock worth $131,734,000 after purchasing an additional 770,542 shares during the last quarter. Legacy Bridge LLC grew its holdings in shares of Boston Scientific by 15.3% in the 1st quarter. Legacy Bridge LLC now owns 3,767 shares of the medical equipment provider’s stock worth $145,000 after purchasing an additional 500 shares during the last quarter. Finally, Insight Wealth Strategies LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth about $882,000. 91.61% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have recently weighed in on BSX. SunTrust Banks reaffirmed a “buy” rating and issued a $47.00 target price on shares of Boston Scientific in a report on Friday, February 8th. Argus upped their target price on shares of Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a report on Monday, February 11th. Guggenheim reaffirmed a “buy” rating and issued a $48.00 target price on shares of Boston Scientific in a report on Friday, February 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Boston Scientific in a report on Wednesday, February 6th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Boston Scientific has an average rating of “Buy” and an average target price of $41.77.

Boston Scientific stock opened at $36.58 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39. Boston Scientific Co. has a 1 year low of $29.42 and a 1 year high of $41.00. The stock has a market cap of $50.87 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 2.19 and a beta of 0.83.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The business had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. On average, analysts forecast that Boston Scientific Co. will post 1.55 earnings per share for the current year.

In other Boston Scientific news, CFO Daniel J. Brennan sold 64,223 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $40.84, for a total transaction of $2,622,867.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $37.10, for a total transaction of $185,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 342,352 shares of company stock worth $13,696,184. Corporate 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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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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