Municipal Employees Retirement System of Michigan continued to hold its stake in Boston Scientific Corporation (NYSE:BSX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 43,930 shares of the medical equipment provider’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in Boston Scientific Corporation were worth $1,218,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its position in Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 487 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 338 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 49 shares in the last quarter. Commerce Bank bought a new stake in shares of Boston Scientific Corporation during the first quarter worth about $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Boston Scientific Corporation during the first quarter valued at $215,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.
Boston Scientific Corporation (NYSE BSX) traded up 0.94% during trading on Friday, reaching $26.89. The company had a trading volume of 5,850,175 shares. The stock has a market cap of $36.90 billion, a PE ratio of 48.10 and a beta of 1.09. The company has a 50-day moving average price of $27.16 and a 200 day moving average price of $26.15. 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 released its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $0.27 earnings per share. On average, analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
A number of brokerages have commented on BSX. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $31.00 target price (up from $27.00) on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. Zacks Investment Research lowered Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Royal Bank Of Canada restated a “buy” rating and issued a $31.00 price objective on shares of Boston Scientific Corporation in a research report on Wednesday, July 12th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $31.00 target price (up from $29.50) on shares of Boston Scientific Corporation in a research note on Friday, June 16th. Finally, BidaskClub raised Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $30.06.
In other Boston Scientific Corporation news, SVP John Bradley Sorenson sold 2,100 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $27.15, for a total transaction of $57,015.00. Following the transaction, the senior vice president now directly owns 18,880 shares in the company, valued at $512,592. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Daniel J. Brennan sold 92,158 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $27.48, for a total value of $2,532,501.84. Following the completion of the sale, the chief financial officer now directly owns 235,421 shares in the company, valued at $6,469,369.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 207,625 shares of company stock valued at $5,686,383. 0.74% of the stock is owned by corporate 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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