Nottingham Advisors Inc. cut its position in shares of Boston Scientific Co. (NYSE:BSX) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,206 shares of the medical equipment provider’s stock after selling 580 shares during the period. Nottingham Advisors Inc.’s holdings in Boston Scientific were worth $1,292,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in BSX. Massachusetts Financial Services Co. MA raised its position in Boston Scientific by 68.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 82,659,471 shares of the medical equipment provider’s stock valued at $3,194,787,000 after purchasing an additional 33,630,705 shares during the period. Parnassus Investments CA purchased a new stake in Boston Scientific during the first quarter valued at approximately $342,182,000. Holocene Advisors LP raised its position in Boston Scientific by 860.7% during the first quarter. Holocene Advisors LP now owns 4,971,939 shares of the medical equipment provider’s stock valued at $192,165,000 after purchasing an additional 4,454,432 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Boston Scientific by 6.3% in the first quarter. Janus Henderson Group PLC now owns 50,962,625 shares of the medical equipment provider’s stock worth $1,969,708,000 after buying an additional 3,033,710 shares during the period. Finally, Deerfield Management Company L.P. Series C raised its holdings in shares of Boston Scientific by 602.0% in the first quarter. Deerfield Management Company L.P. Series C now owns 2,857,000 shares of the medical equipment provider’s stock worth $110,423,000 after buying an additional 2,450,000 shares during the period. 89.80% of the stock is owned by institutional investors.
Several brokerages have recently weighed in on BSX. Credit Suisse Group increased their price target on Boston Scientific from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. TheStreet downgraded Boston Scientific from a “b” rating to a “c+” rating in a report on Tuesday, July 27th. Barclays initiated coverage on Boston Scientific in a research note on Monday, May 24th. They issued an “overweight” rating and a $51.00 price objective on the stock. Raymond James increased their price objective on Boston Scientific from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, July 28th. Finally, Morgan Stanley increased their price objective on Boston Scientific from $51.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and an average price target of $48.65.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Monday, July 26th. The medical equipment provider reported $0.40 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Boston Scientific had a return on equity of 12.67% and a net margin of 4.56%. The business’s quarterly revenue was up 53.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 1.61 earnings per share for the current year.
In related news, CEO Michael F. Mahoney sold 201,041 shares of Boston Scientific stock in a transaction dated Tuesday, September 7th. The stock was sold at an average price of $44.57, for a total value of $8,960,397.37. Following the sale, the chief executive officer now directly owns 2,216,810 shares in the company, valued at approximately $98,803,221.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Wendy Carruthers sold 3,321 shares of the business’s stock in a transaction that occurred on Thursday, July 15th. The stock was sold at an average price of $42.42, for a total value of $140,876.82. Following the transaction, the senior vice president now owns 171,216 shares in the company, valued at $7,262,982.72. The disclosure for this sale can be found here. Insiders sold a total of 595,010 shares of company stock valued at $26,297,956 in the last 90 days. 0.71% of the stock is currently owned by company insiders.
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.
Featured Article: Depreciation
Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.