Boston Scientific Co. (NYSE:BSX) Position Lifted by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,888 shares of the medical equipment provider’s stock after acquiring an additional 513 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Boston Scientific were worth $898,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BSX. Marshall Wace LLP lifted its position in shares of Boston Scientific by 251.5% in the 1st quarter. Marshall Wace LLP now owns 4,413,791 shares of the medical equipment provider’s stock worth $169,401,000 after buying an additional 3,158,088 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of Boston Scientific by 38.3% in the 1st 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 buying an additional 2,494,598 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $599,030,000 after buying an additional 1,724,046 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Boston Scientific by 34.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 2,407,708 shares of the medical equipment provider’s stock worth $92,408,000 after buying an additional 622,297 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Boston Scientific by 825.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 692,014 shares of the medical equipment provider’s stock worth $26,559,000 after buying an additional 617,226 shares during the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

BSX has been the topic of a number of recent research reports. Evercore ISI upgraded shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 price target on the stock in a research report on Monday, May 13th. Piper Jaffray Companies set a $50.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Wednesday, July 24th. BTIG Research set a $46.00 price target on shares of Boston Scientific and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Stifel Nicolaus raised their price target on shares of Boston Scientific from $44.00 to $46.00 and gave the stock an “in-line” rating in a research report on Thursday, June 27th. Finally, Jefferies Financial Group increased their price objective 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 research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. Boston Scientific presently has a consensus rating of “Buy” and an average target price of $44.91.

Shares of BSX stock traded down $0.82 during trading hours on Wednesday, reaching $41.51. The stock had a trading volume of 1,951,882 shares, compared to its average volume of 6,059,719. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific Co. has a twelve month low of $31.56 and a twelve month high of $43.66. The company’s 50-day simple moving average is $42.35. The company has a market cap of $58.30 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.56 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. Boston Scientific’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $0.41 EPS. Analysts predict that Boston Scientific Co. will post 1.56 EPS for the current year.

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 20,673 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $43.41, for a total transaction of $897,414.93. Following the transaction, the executive vice president now owns 226,835 shares of the company’s stock, valued at approximately $9,846,907.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Maulik Nanavaty sold 3,038 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were 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. In the last three months, insiders have sold 60,327 shares of company stock worth $2,466,666. 0.66% of the stock is owned by corporate insiders.

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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