Tandem Capital Management Corp ADV Sells 550 Shares of Boston Scientific Co. (NYSE:BSX)

Tandem Capital Management Corp ADV decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.9% in the first quarter, Holdings Channel reports. The firm owned 61,639 shares of the medical equipment provider’s stock after selling 550 shares during the quarter. Boston Scientific comprises about 1.6% of Tandem Capital Management Corp ADV’s portfolio, making the stock its 25th biggest holding. Tandem Capital Management Corp ADV’s holdings in Boston Scientific were worth $2,382,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BSX. CIBC Private Wealth Group LLC raised its stake in shares of Boston Scientific by 18.3% in the first quarter. CIBC Private Wealth Group LLC now owns 26,144 shares of the medical equipment provider’s stock valued at $1,009,000 after acquiring an additional 4,039 shares during the last quarter. E Fund Management Co. Ltd. bought a new position in shares of Boston Scientific in the first quarter valued at approximately $193,000. Norinchukin Bank The raised its stake in shares of Boston Scientific by 0.6% in the first quarter. Norinchukin Bank The now owns 117,876 shares of the medical equipment provider’s stock valued at $4,556,000 after acquiring an additional 683 shares during the last quarter. Sei Investments Co. raised its stake in shares of Boston Scientific by 9.7% in the first quarter. Sei Investments Co. now owns 4,881,897 shares of the medical equipment provider’s stock valued at $188,315,000 after acquiring an additional 430,789 shares during the last quarter. Finally, Brinker Capital Investments LLC raised its stake in shares of Boston Scientific by 241.9% in the first quarter. Brinker Capital Investments LLC now owns 92,316 shares of the medical equipment provider’s stock valued at $3,568,000 after acquiring an additional 65,316 shares during the last quarter. Hedge funds and other institutional investors own 89.74% of the company’s stock.

In related news, EVP David A. Pierce sold 7,603 shares of the company’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $39.36, for a total value of $299,254.08. Following the transaction, the executive vice president now owns 2,057 shares in the company, valued at approximately $80,963.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Scott Olson sold 700 shares of the company’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $38.61, for a total transaction of $27,027.00. Following the completion of the transaction, the senior vice president now owns 12,844 shares in the company, valued at approximately $495,906.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,009 shares of company stock worth $9,309,362. 0.71% of the stock is owned by insiders.

BSX has been the subject of a number of research analyst reports. TheStreet upgraded shares of Boston Scientific from a “c” rating to a “b” rating in a research note on Tuesday, June 1st. Wells Fargo & Company raised their price target on shares of Boston Scientific from $42.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. Needham & Company LLC lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, May 26th. Zacks Investment Research lowered shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Thursday, May 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Boston Scientific from $39.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday, April 29th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Boston Scientific currently has a consensus rating of “Buy” and a consensus price target of $46.75.

NYSE:BSX traded down $0.37 on Friday, hitting $42.47. 95,527 shares of the company’s stock were exchanged, compared to its average volume of 8,794,018. The business has a 50-day simple moving average of $41.74. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.80. Boston Scientific Co. has a 52 week low of $32.99 and a 52 week high of $44.63. The stock has a market capitalization of $60.35 billion, a P/E ratio of 428.40, a P/E/G ratio of 2.86 and a beta of 0.88.

Boston Scientific (NYSE:BSX) last issued its earnings results on Tuesday, April 27th. The medical equipment provider reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.06. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Boston Scientific had a net margin of 1.69% and a return on equity of 9.80%. Boston Scientific’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. Research analysts anticipate that Boston Scientific Co. will post 1.58 earnings per share for the current year.

About Boston Scientific

Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.

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

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