Cohen Klingenstein LLC Purchases Shares of 30,500 Boston Scientific Co. (NYSE:BSX)

Cohen Klingenstein LLC purchased a new stake in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,500 shares of the medical equipment provider’s stock, valued at approximately $1,241,000.

Several other hedge funds and other institutional investors have also made changes to their positions in BSX. Nuveen Asset Management LLC lifted its holdings in shares of Boston Scientific by 5,664.6% in the second quarter. Nuveen Asset Management LLC now owns 8,797,616 shares of the medical equipment provider’s stock valued at $378,122,000 after purchasing an additional 8,645,002 shares in the last quarter. Viking Global Investors LP lifted its holdings in shares of Boston Scientific by 185.5% in the second quarter. Viking Global Investors LP now owns 9,195,192 shares of the medical equipment provider’s stock valued at $395,209,000 after purchasing an additional 5,974,823 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Boston Scientific by 116.3% in the second quarter. Marshall Wace LLP now owns 9,545,382 shares of the medical equipment provider’s stock valued at $410,261,000 after purchasing an additional 5,131,591 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Boston Scientific by 43.2% in the second quarter. Invesco Ltd. now owns 12,320,389 shares of the medical equipment provider’s stock valued at $529,530,000 after purchasing an additional 3,714,624 shares in the last quarter. Finally, Vontobel Asset Management Inc. lifted its holdings in shares of Boston Scientific by 245.4% in the second quarter. Vontobel Asset Management Inc. now owns 4,873,792 shares of the medical equipment provider’s stock valued at $215,565,000 after purchasing an additional 3,462,586 shares in the last quarter. 91.55% of the stock is currently owned by institutional investors.

In related news, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $42.62, for a total transaction of $213,100.00. Following the completion of the transaction, the executive vice president now owns 29,201 shares of the company’s stock, valued at $1,244,546.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Halliday Hamish 4,000,000 shares of the stock in a transaction dated Friday, October 11th. Insiders have sold 91,449 shares of company stock valued at $3,790,048 in the last ninety days. 0.66% of the stock is currently owned by company insiders.

Shares of BSX stock opened at $38.34 on Friday. Boston Scientific Co. has a one year low of $31.56 and a one year high of $43.84. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.31. The company has a 50 day moving average price of $41.16 and a 200 day moving average price of $40.30. The firm has a market capitalization of $53.57 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 EPS for the quarter, topping the consensus estimate of $0.38 by $0.01. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business posted $0.41 earnings per share. Boston Scientific’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.

Several analysts have issued reports on BSX shares. BTIG Research set a $46.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a report on Wednesday, July 24th. Needham & Company LLC set a $46.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. initiated coverage on shares of Boston Scientific in a research report on Thursday, September 5th. They issued an “overweight” rating for the company. Canaccord Genuity boosted their price objective on shares of Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Barclays reissued an “overweight” rating and issued a $48.00 price objective on shares of Boston Scientific in a research report on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $45.76.

Boston Scientific Company Profile

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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