Sumitomo Mitsui Asset Management Company LTD trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,716 shares of the medical equipment provider’s stock after selling 16,862 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Boston Scientific were worth $4,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. West Oak Capital LLC increased its position in shares of Boston Scientific by 40.0% during the fourth quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Boston Scientific by 4.8% in the fourth quarter. Quadrant Capital Group LLC now owns 6,532 shares of the medical equipment provider’s stock valued at $215,000 after purchasing an additional 302 shares in the last quarter. Reynders McVeigh Capital Management LLC grew its holdings in Boston Scientific by 1.8% during the 3rd quarter. Reynders McVeigh Capital Management LLC now owns 19,701 shares of the medical equipment provider’s stock worth $758,000 after acquiring an additional 350 shares in the last quarter. CWM LLC grew its holdings in Boston Scientific by 54.3% during the 4th quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 359 shares in the last quarter. Finally, We Are One Seven LLC acquired a new position in Boston Scientific during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 90.80% of the company’s stock.
BSX stock opened at $39.19 on Monday. Boston Scientific Co. has a twelve month low of $25.04 and a twelve month high of $39.44. The company has a market cap of $54.23 billion, a PE ratio of 26.66, a P/E/G ratio of 2.30 and a beta of 0.83. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.78 and a quick ratio of 0.56.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. Boston Scientific had a return on equity of 26.80% and a net margin of 17.01%. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current year.
Several brokerages have recently weighed in on BSX. Needham & Company LLC restated a “buy” rating and set a $43.00 price objective on shares of Boston Scientific in a research report on Wednesday, February 6th. Guggenheim restated a “buy” rating and set a $48.00 price objective on shares of Boston Scientific in a research report on Friday. Oppenheimer set a $38.00 price objective on shares of Boston Scientific and gave the stock a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research downgraded shares of Boston Scientific from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Boston Scientific in a research report on Friday. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $40.35.
In related news, Director Yoshiaki Fujimori sold 6,143 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $37.13, for a total transaction of $228,089.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maulik Nanavaty sold 23,458 shares of the firm’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $37.28, for a total value of $874,514.24. The disclosure for this sale can be found here. Insiders have sold 91,724 shares of company stock worth $3,350,373 over the last 90 days. 0.73% of the stock is currently owned by company 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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