IBM Retirement Fund increased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 122.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,525 shares of the medical equipment provider’s stock after buying an additional 18,483 shares during the period. IBM Retirement Fund’s holdings in Boston Scientific Corporation were worth $1,038,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. NGAM Advisors L.P. boosted its stake in Boston Scientific Corporation by 12.4% in the second quarter. NGAM Advisors L.P. now owns 49,840 shares of the medical equipment provider’s stock valued at $1,382,000 after buying an additional 5,513 shares during the last quarter. Sumitomo Life Insurance Co. boosted its position in shares of Boston Scientific Corporation by 12.6% in the second quarter. Sumitomo Life Insurance Co. now owns 134,584 shares of the medical equipment provider’s stock valued at $3,731,000 after buying an additional 15,031 shares in the last quarter. Private Wealth Partners LLC boosted its position in shares of Boston Scientific Corporation by 0.4% in the second quarter. Private Wealth Partners LLC now owns 208,051 shares of the medical equipment provider’s stock valued at $5,767,000 after buying an additional 785 shares in the last quarter. Moody Lynn & Lieberson LLC bought a new position in shares of Boston Scientific Corporation during the second quarter valued at $3,715,000. Finally, Shell Asset Management Co. boosted its position in shares of Boston Scientific Corporation by 4.2% in the second quarter. Shell Asset Management Co. now owns 161,181 shares of the medical equipment provider’s stock valued at $4,468,000 after buying an additional 6,539 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.
Boston Scientific Corporation (NYSE:BSX) traded up 0.57% during trading on Friday, hitting $26.41. The stock had a trading volume of 3,285,998 shares. The stock’s 50-day moving average price is $27.38 and its 200-day moving average price is $26.02. The company has a market capitalization of $36.24 billion, a P/E ratio of 47.25 and a beta of 1.09. Boston Scientific Corporation has a 1-year low of $19.67 and a 1-year high of $28.51.
Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a net margin of 9.04% and a return on equity of 23.62%. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the prior year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Analysts expect that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
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Several equities analysts have recently issued reports on BSX shares. Stifel Nicolaus restated a “buy” rating and set a $32.00 price objective on shares of Boston Scientific Corporation in a research report on Sunday, July 30th. Goldman Sachs Group, Inc. (The) assumed coverage on Boston Scientific Corporation in a research report on Tuesday, May 16th. They set a “neutral” rating and a $28.00 price objective on the stock. Oppenheimer Holdings, Inc. set a $27.00 price target on Boston Scientific Corporation and gave the company a “hold” rating in a research report on Friday, April 28th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target (up previously from $29.00) on shares of Boston Scientific Corporation in a research report on Thursday, April 27th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $31.00 price target (up previously from $27.00) on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $30.06.
In other Boston Scientific Corporation news, EVP Kevin J. Ballinger sold 28,864 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $26.14, for a total transaction of $754,504.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 92,158 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total transaction of $2,532,501.84. Following the transaction, the chief financial officer now owns 235,421 shares of the company’s stock, valued at approximately $6,469,369.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 236,489 shares of company stock worth $6,440,888. 0.74% of the stock is owned by insiders.
Boston Scientific Corporation Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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