Boston Scientific Corporation (BSX) Stake Maintained by Somerset Group LLC

Somerset Group LLC continued to hold its position in shares of Boston Scientific Corporation (NYSE:BSX) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 48,200 shares of the medical equipment provider’s stock at the end of the second quarter. Boston Scientific Corporation comprises about 1.2% of Somerset Group LLC’s portfolio, making the stock its 21st largest position. Somerset Group LLC’s holdings in Boston Scientific Corporation were worth $1,336,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Boston Scientific Corporation by 17.7% in the first quarter. Jennison Associates LLC now owns 2,105,635 shares of the medical equipment provider’s stock valued at $52,367,000 after buying an additional 317,319 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Boston Scientific Corporation by 241.2% in the first quarter. Canada Pension Plan Investment Board now owns 828,989 shares of the medical equipment provider’s stock valued at $20,617,000 after buying an additional 586,032 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Boston Scientific Corporation by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,289,785 shares of the medical equipment provider’s stock valued at $206,167,000 after buying an additional 200,190 shares in the last quarter. BB&T Corp boosted its position in shares of Boston Scientific Corporation by 28.9% in the first quarter. BB&T Corp now owns 12,577 shares of the medical equipment provider’s stock valued at $313,000 after buying an additional 2,817 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its position in shares of Boston Scientific Corporation by 21.2% in the first quarter. Beck Mack & Oliver LLC now owns 24,600 shares of the medical equipment provider’s stock valued at $612,000 after buying an additional 4,300 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Shares of Boston Scientific Corporation (BSX) traded down 0.23% during mid-day trading on Friday, hitting $26.58. The stock had a trading volume of 600,621 shares. The company has a market cap of $36.47 billion, a PE ratio of 47.55 and a beta of 1.09. The stock has a 50 day moving average price of $27.19 and a 200-day moving average price of $26.12. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $28.51.

Boston Scientific Corporation (NYSE:BSX) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 EPS. On average, equities analysts expect that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.

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Several research analysts recently weighed in on the company. Zacks Investment Research cut Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. UBS AG reiterated a “buy” rating and set a $31.00 price target (up from $30.00) on shares of Boston Scientific Corporation in a research report on Tuesday, August 1st. BidaskClub cut Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a research report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. Boston Scientific Corporation currently has a consensus rating of “Buy” and a consensus target price of $30.06.

In related news, SVP John Bradley Sorenson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $26.37, for a total value of $208,323.00. Following the completion of the transaction, the senior vice president now directly owns 21,680 shares of the company’s stock, valued at approximately $571,701.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Wendy Carruthers sold 12,433 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $26.75, for a total value of $332,582.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 207,625 shares of company stock valued at $5,686,383. Company insiders own 0.74% of the company’s stock.

About Boston Scientific Corporation

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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Institutional Ownership by Quarter for Boston Scientific Corporation (NYSE:BSX)

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