Neuberger Berman Group LLC Has $66.52 Million Position in Boston Scientific Corporation (BSX)
Neuberger Berman Group LLC decreased its position in shares of Boston Scientific Corporation (NYSE:BSX) by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,399,692 shares of the medical equipment provider’s stock after selling 49,169 shares during the period. Neuberger Berman Group LLC owned about 0.18% of Boston Scientific Corporation worth $66,519,000 as of its most recent filing with the SEC.
Several other hedge funds also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. raised its stake in Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 338 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 49 shares during the last quarter. Peddock Capital Advisors LLC bought a new stake in Boston Scientific Corporation during the second quarter worth about $201,000. Commerce Bank bought a new stake in Boston Scientific Corporation during the first quarter worth about $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Boston Scientific Corporation during the first quarter worth about $215,000. Institutional investors own 90.52% of the company’s stock.
Shares of Boston Scientific Corporation (BSX) opened at 27.55 on Friday. The stock has a market cap of $37.80 billion, a PE ratio of 49.28 and a beta of 1.09. The firm has a 50-day moving average price of $27.02 and a 200 day moving average price of $26.28. Boston Scientific Corporation has a 12-month low of $19.67 and a 12-month high of $28.51.
Boston Scientific Corporation (NYSE:BSX) last announced its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the previous year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts expect that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
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BSX has been the topic of a number of analyst reports. 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. BMO Capital Markets restated a “buy” rating and issued a $30.00 target price on shares of Boston Scientific Corporation in a research note on Wednesday, June 21st. Zacks Investment Research upgraded Boston Scientific Corporation from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, June 28th. BidaskClub lowered Boston Scientific Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $31.00 target price on shares of Boston Scientific Corporation in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Boston Scientific Corporation currently has a consensus rating of “Buy” and a consensus price target of $30.06.
In other Boston Scientific Corporation news, CFO Daniel J. Brennan sold 92,158 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total transaction of $2,532,501.84. Following the completion of the transaction, the chief financial officer now owns 235,421 shares in the company, valued at $6,469,369.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Bradley Sorenson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $26.37, for a total value of $208,323.00. Following the transaction, the senior vice president now owns 21,680 shares of the company’s stock, valued at approximately $571,701.60. The disclosure for this sale can be found here. Insiders have sold 194,653 shares of company stock valued at $5,326,869 in the last 90 days. Company insiders own 0.74% of the company’s stock.
Boston Scientific Corporation Company 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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