First Trust Advisors LP lifted its stake in shares of Boston Scientific Co. (NYSE:BSX) by 17.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,388,172 shares of the medical equipment provider’s stock after purchasing an additional 204,129 shares during the quarter. First Trust Advisors LP’s holdings in Boston Scientific were worth $53,278,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. 1832 Asset Management L.P. increased its holdings in shares of Boston Scientific by 187.2% during the fourth quarter. 1832 Asset Management L.P. now owns 1,240,550 shares of the medical equipment provider’s stock worth $43,836,000 after buying an additional 808,650 shares in the last quarter. IFM Investors Pty Ltd increased its holdings in Boston Scientific by 12.9% in the first quarter. IFM Investors Pty Ltd now owns 90,005 shares of the medical equipment provider’s stock valued at $3,454,000 after purchasing an additional 10,276 shares during the period. Legacy Bridge LLC increased its holdings in Boston Scientific by 15.3% in the first quarter. Legacy Bridge LLC now owns 3,767 shares of the medical equipment provider’s stock valued at $145,000 after purchasing an additional 500 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in Boston Scientific by 26.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,727,580 shares of the medical equipment provider’s stock valued at $131,734,000 after purchasing an additional 770,542 shares during the period. Finally, Insight Wealth Strategies LLC acquired a new stake in Boston Scientific in the fourth quarter valued at $882,000. Institutional investors own 90.81% of the company’s stock.
A number of research firms recently weighed in on BSX. Evercore ISI upgraded Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 price objective for the company in a report on Monday, May 13th. BTIG Research restated a “buy” rating on shares of Boston Scientific in a report on Thursday, April 25th. Needham & Company LLC restated a “buy” rating and issued a $43.00 price objective on shares of Boston Scientific in a report on Wednesday, February 6th. Canaccord Genuity decreased their price objective on Boston Scientific from $45.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Finally, SunTrust Banks restated a “buy” rating and issued a $47.00 price objective on shares of Boston Scientific in a report on Friday, February 8th. Three investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Boston Scientific presently has an average rating of “Buy” and a consensus target price of $41.53.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The business’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $0.33 EPS. As a group, sell-side analysts predict that Boston Scientific Co. will post 1.55 EPS 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 on Monday, March 4th. The shares were sold at an average price of $40.84, for a total transaction of $2,622,867.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Kevin J. Ballinger sold 20,900 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $40.74, for a total transaction of $851,466.00. The disclosure for this sale can be found here. Insiders have sold 258,500 shares of company stock worth $10,341,910 in the last ninety days. Insiders own 0.66% of the company’s stock.
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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