IFM Investors Pty Ltd Raises Position in Boston Scientific Corporation (BSX)
IFM Investors Pty Ltd increased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,091 shares of the medical equipment provider’s stock after purchasing an additional 2,038 shares during the quarter. IFM Investors Pty Ltd’s holdings in Boston Scientific were worth $1,140,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Comerica Securities Inc. raised its holdings in Boston Scientific by 0.9% during the second quarter. Comerica Securities Inc. now owns 11,478 shares of the medical equipment provider’s stock worth $318,000 after purchasing an additional 99 shares during the last quarter. ETRADE Capital Management LLC increased its position in Boston Scientific by 1.7% during the second quarter. ETRADE Capital Management LLC now owns 10,079 shares of the medical equipment provider’s stock worth $279,000 after buying an additional 171 shares in the last quarter. Krilogy Financial LLC increased its position in Boston Scientific by 5.9% during the second quarter. Krilogy Financial LLC now owns 7,680 shares of the medical equipment provider’s stock worth $213,000 after buying an additional 430 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Boston Scientific by 3.9% during the second quarter. Wetherby Asset Management Inc. now owns 13,788 shares of the medical equipment provider’s stock worth $382,000 after buying an additional 523 shares in the last quarter. Finally, Greenwood Capital Associates LLC increased its position in Boston Scientific by 1.1% during the second quarter. Greenwood Capital Associates LLC now owns 53,330 shares of the medical equipment provider’s stock worth $1,478,000 after buying an additional 564 shares in the last quarter. 90.57% of the stock is owned by hedge funds and other institutional investors.
In other Boston Scientific news, EVP Timothy A. Pratt sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $28.22, for a total transaction of $282,200.00. Following the completion of the sale, the executive vice president now owns 164,681 shares of the company’s stock, valued at $4,647,297.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $26.66, for a total value of $413,230.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,698 shares of company stock valued at $12,273,553. Company insiders own 0.74% of the company’s stock.
Shares of Boston Scientific Corporation (NYSE BSX) opened at $25.61 on Wednesday. The company has a market capitalization of $35,016.50, a price-to-earnings ratio of 20.90, a PEG ratio of 1.97 and a beta of 0.96. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.50. Boston Scientific Corporation has a 1 year low of $21.03 and a 1 year high of $29.93.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.31. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.27 earnings per share. analysts expect that Boston Scientific Corporation will post 1.25 EPS for the current year.
Several equities analysts have weighed in on the company. BMO Capital Markets reissued a “buy” rating and set a $32.00 price target on shares of Boston Scientific in a research report on Tuesday. TheStreet downgraded Boston Scientific from a “b” rating to a “c+” rating in a research report on Thursday, December 7th. Needham & Company LLC raised Boston Scientific from a “buy” rating to a “strong-buy” rating and raised their price target for the stock from $25.04 to $32.00 in a research report on Friday, December 8th. SunTrust Banks set a $33.00 price target on Boston Scientific and gave the stock a “buy” rating in a research report on Monday, December 4th. Finally, Cowen set a $31.00 price target on Boston Scientific and gave the stock a “buy” rating in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.03.
Boston Scientific Profile
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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