Bank of New York Mellon Corp cut its position in shares of Boston Scientific Corporation (NYSE:BSX) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,081,412 shares of the medical equipment provider’s stock after selling 223,824 shares during the period. Bank of New York Mellon Corp’s holdings in Boston Scientific Corporation were worth $528,936,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of BSX. Wells Fargo & Company MN boosted its stake in shares of Boston Scientific Corporation by 2.5% in the first quarter. Wells Fargo & Company MN now owns 8,289,785 shares of the medical equipment provider’s stock worth $206,167,000 after buying an additional 200,190 shares in the last quarter. BB&T Corp boosted its stake in shares of Boston Scientific Corporation by 28.9% in the first quarter. BB&T Corp now owns 12,577 shares of the medical equipment provider’s stock worth $313,000 after buying an additional 2,817 shares in the last quarter. Beck Mack & Oliver LLC boosted its stake in shares of Boston Scientific Corporation by 21.2% in the first quarter. Beck Mack & Oliver LLC now owns 24,600 shares of the medical equipment provider’s stock worth $612,000 after buying an additional 4,300 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of Boston Scientific Corporation by 6.7% in the first quarter. Wetherby Asset Management Inc. now owns 13,265 shares of the medical equipment provider’s stock worth $330,000 after buying an additional 835 shares in the last quarter. Finally, Breton Hill Capital Ltd. purchased a new stake in shares of Boston Scientific Corporation during the first quarter worth $224,000. Institutional investors own 91.62% of the company’s stock.

Boston Scientific Corporation (NYSE BSX) opened at 26.47 on Wednesday. The stock has a market cap of $36.32 billion, a PE ratio of 47.35 and a beta of 1.09. Boston Scientific Corporation has a 52-week low of $19.67 and a 52-week high of $28.51. The firm has a 50-day moving average price of $27.26 and a 200 day moving average price of $26.12.

Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 EPS. Equities analysts anticipate that Boston Scientific Corporation will post $1.26 earnings per share for the current year.

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A number of brokerages have weighed in on BSX. Zacks Investment Research cut Boston Scientific Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 price objective on shares of Boston Scientific Corporation in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated an “ourperform” rating and issued a $29.00 price objective (down previously from $31.00) on shares of Boston Scientific Corporation in a research note on Friday, June 9th. Needham & Company LLC boosted their price objective on Boston Scientific Corporation from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, June 22nd. Finally, BidaskClub upgraded Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Boston Scientific Corporation currently has an average rating of “Buy” and a consensus target price of $30.06.

In other Boston Scientific Corporation news, EVP Michael P. Phalen sold 15,500 shares of Boston Scientific Corporation stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $27.25, for a total transaction of $422,375.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Daniel J. Brennan sold 92,158 shares of Boston Scientific Corporation stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $27.48, for a total value of $2,532,501.84. Following the sale, the chief financial officer now directly owns 235,421 shares in the company, valued at approximately $6,469,369.08. The disclosure for this sale can be found here. Insiders have sold a total of 207,625 shares of company stock worth $5,686,383 in the last ninety days. 0.74% of the stock is owned by company insiders.

About Boston Scientific Corporation

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

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

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