Boston Scientific Co. (BSX) is Sirios Capital Management L P’s 7th Largest Position

Sirios Capital Management L P reduced its position in Boston Scientific Co. (NYSE:BSX) by 3.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,310,249 shares of the medical equipment provider’s stock after selling 84,605 shares during the quarter. Boston Scientific makes up 4.6% of Sirios Capital Management L P’s portfolio, making the stock its 7th largest holding. Sirios Capital Management L P’s holdings in Boston Scientific were worth $88,944,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. IMA Wealth Inc. lifted its position in Boston Scientific by 1.1% in the third quarter. IMA Wealth Inc. now owns 117,815 shares of the medical equipment provider’s stock worth $4,536,000 after purchasing an additional 1,330 shares during the period. Somerset Group LLC lifted its holdings in shares of Boston Scientific by 2.7% during the third quarter. Somerset Group LLC now owns 51,174 shares of the medical equipment provider’s stock valued at $1,970,000 after acquiring an additional 1,336 shares during the period. Vantage Investment Advisors LLC lifted its holdings in shares of Boston Scientific by 82.4% during the third quarter. Vantage Investment Advisors LLC now owns 2,989 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 1,350 shares during the period. Synovus Financial Corp lifted its holdings in shares of Boston Scientific by 37.2% during the third quarter. Synovus Financial Corp now owns 5,000 shares of the medical equipment provider’s stock valued at $191,000 after acquiring an additional 1,356 shares during the period. Finally, First American Trust FSB lifted its holdings in shares of Boston Scientific by 1.3% during the third quarter. First American Trust FSB now owns 113,375 shares of the medical equipment provider’s stock valued at $4,365,000 after acquiring an additional 1,470 shares during the period. 90.85% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:BSX traded up $0.52 during midday trading on Monday, reaching $38.19. The company’s stock had a trading volume of 33,519 shares, compared to its average volume of 7,050,870. Boston Scientific Co. has a fifty-two week low of $24.54 and a fifty-two week high of $39.44. The firm has a market cap of $52.13 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.70. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.56 and a current ratio of 0.78.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.40 billion. During the same period last year, the company posted $0.31 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.

A number of brokerages have issued reports on BSX. Morgan Stanley lifted their price objective on Boston Scientific from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. Oppenheimer reissued a “hold” rating on shares of Boston Scientific in a report on Tuesday, September 25th. Guggenheim lifted their price objective on Boston Scientific to $45.00 and gave the company a “buy” rating in a report on Friday, November 16th. Wells Fargo & Co lifted their price objective on Boston Scientific from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Finally, Cowen set a $42.00 price objective on Boston Scientific and gave the company a “buy” rating in a report on Monday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $39.54.

In related news, Chairman Michael F. Mahoney sold 116,666 shares of Boston Scientific stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $35.88, for a total value of $4,185,976.08. Following the completion of the sale, the chairman now directly owns 2,023,104 shares in the company, valued at $72,588,971.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $36.02, for a total value of $180,100.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 441,386 shares of company stock valued at $16,373,940. 0.73% of the stock is currently owned by corporate insiders.

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Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. 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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