Boston Scientific Co. (NYSE:BSX) Shares Sold by South Street Advisors LLC

South Street Advisors LLC decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 321,340 shares of the medical equipment provider’s stock after selling 610 shares during the period. Boston Scientific makes up approximately 4.1% of South Street Advisors LLC’s holdings, making the stock its 7th largest position. South Street Advisors LLC’s holdings in Boston Scientific were worth $13,811,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Boston Scientific by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after buying an additional 1,724,046 shares during the period. Northern Trust Corp raised its holdings in Boston Scientific by 1.9% during the first quarter. Northern Trust Corp now owns 15,831,107 shares of the medical equipment provider’s stock worth $607,597,000 after purchasing an additional 300,231 shares in the last quarter. Marshall Wace North America L.P. raised its holdings in Boston Scientific by 38.3% during the first quarter. Marshall Wace North America L.P. now owns 9,002,670 shares of the medical equipment provider’s stock worth $345,522,000 after purchasing an additional 2,494,598 shares in the last quarter. Marshall Wace LLP raised its holdings in Boston Scientific by 251.5% during the first quarter. Marshall Wace LLP now owns 4,413,791 shares of the medical equipment provider’s stock worth $169,401,000 after purchasing an additional 3,158,088 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Boston Scientific by 1.5% during the second quarter. Bessemer Group Inc. now owns 4,313,132 shares of the medical equipment provider’s stock worth $185,379,000 after purchasing an additional 64,394 shares in the last quarter. Institutional investors and hedge funds own 90.69% of the company’s stock.

Boston Scientific stock traded down $0.16 during mid-day trading on Friday, reaching $42.46. The company had a trading volume of 2,177,542 shares, compared to its average volume of 5,449,821. Boston Scientific Co. has a 1 year low of $31.56 and a 1 year high of $43.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.12. The company has a market cap of $59.60 billion, a P/E ratio of 28.88, a P/E/G ratio of 2.57 and a beta of 0.80. The business’s 50-day simple moving average is $42.17.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.74%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, analysts anticipate that Boston Scientific Co. will post 1.56 earnings per share for the current fiscal year.

In other news, SVP John Bradley Sorenson sold 3,728 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $42.30, for a total transaction of $157,694.40. Following the completion of the transaction, the senior vice president now directly owns 48,385 shares of the company’s stock, valued at approximately $2,046,685.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maulik Nanavaty sold 3,038 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $36.74, for a total transaction of $111,616.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,327 shares of company stock valued at $2,253,566. 0.66% of the stock is currently owned by corporate insiders.

Several research analysts recently issued reports on the stock. Leerink Swann set a $50.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a report on Wednesday. BTIG Research set a $46.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a report on Wednesday, July 24th. Piper Jaffray Companies set a $50.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a report on Wednesday, July 24th. Canaccord Genuity increased their price target on shares of Boston Scientific from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group increased their price target on shares of Boston Scientific from $44.00 to $48.00 and gave the stock a “positive” rating in a report on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.91.

About Boston Scientific

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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