Meiji Yasuda Life Insurance Co acquired a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,400 shares of the medical equipment provider’s stock, valued at approximately $332,000.
A number of other hedge funds also recently modified their holdings of the business. Robeco Institutional Asset Management B.V. bought a new position in shares of Boston Scientific during the third quarter valued at approximately $3,914,000. Alps Advisors Inc. grew its stake in shares of Boston Scientific by 33.3% during the third quarter. Alps Advisors Inc. now owns 15,987 shares of the medical equipment provider’s stock valued at $615,000 after buying an additional 3,993 shares during the last quarter. GWM Advisors LLC bought a new position in shares of Boston Scientific during the third quarter valued at approximately $305,000. Acadian Asset Management LLC grew its stake in shares of Boston Scientific by 108.7% during the third quarter. Acadian Asset Management LLC now owns 13,270 shares of the medical equipment provider’s stock valued at $511,000 after buying an additional 6,911 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of Boston Scientific during the third quarter valued at approximately $108,000. Institutional investors and hedge funds own 91.34% of the company’s stock.
Shares of NYSE:BSX opened at $40.30 on Tuesday. Boston Scientific Co. has a 52-week low of $26.27 and a 52-week high of $41.00. The company has a market capitalization of $55.85 billion, a P/E ratio of 27.41, a PEG ratio of 2.30 and a beta of 0.83. The company has a current ratio of 0.76, a quick ratio of 0.56 and a debt-to-equity ratio of 0.55.
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 consensus estimate of $0.37 by $0.02. Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the prior year, the firm earned $0.34 earnings per share. Boston Scientific’s revenue was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Boston Scientific Co. will post 1.56 earnings per share for the current fiscal year.
BSX has been the topic of a number of analyst reports. Credit Suisse Group initiated coverage on Boston Scientific in a research note on Monday, December 17th. They set an “outperform” rating and a $42.00 target price on the stock. UBS Group initiated coverage on Boston Scientific in a research note on Tuesday, November 27th. They set a “buy” rating and a $45.00 target price on the stock. Guggenheim reaffirmed a “buy” rating and set a $48.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. BTIG Research reaffirmed a “buy” rating on shares of Boston Scientific in a research note on Wednesday, November 21st. Finally, SunTrust Banks upped their target price on Boston Scientific to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 20th. Three investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Boston Scientific currently has an average rating of “Buy” and an average price target of $40.54.
In other Boston Scientific news, SVP Desiree Ralls-Morrison sold 4,047 shares of the company’s stock in a transaction on Wednesday, January 9th. The stock was sold at an average price of $36.00, for a total transaction of $145,692.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xin Warren Wang sold 10,000 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $40.31, for a total value of $403,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,103 shares of company stock valued at $6,493,661. 0.73% of the stock is 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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