Orbimed Advisors LLC Has $390.79 Million Position in Boston Scientific Corporation (BSX)
Orbimed Advisors LLC trimmed its position in Boston Scientific Corporation (NYSE:BSX) by 7.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,397,000 shares of the medical equipment provider’s stock after selling 1,003,000 shares during the quarter. Boston Scientific comprises approximately 3.7% of Orbimed Advisors LLC’s holdings, making the stock its 4th biggest position. Orbimed Advisors LLC owned about 0.98% of Boston Scientific worth $390,790,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC grew its holdings in Boston Scientific by 157.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after buying an additional 3,100 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its holdings in Boston Scientific by 14.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock valued at $160,000 after buying an additional 720 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new stake in Boston Scientific during the 2nd quarter valued at approximately $191,000. Peddock Capital Advisors LLC purchased a new stake in Boston Scientific during the 2nd quarter valued at approximately $201,000. Finally, Ironwood Investment Counsel LLC purchased a new stake in Boston Scientific during the 3rd quarter valued at approximately $204,000. 90.57% of the stock is owned by institutional investors.
BSX has been the subject of a number of research reports. BidaskClub downgraded Boston Scientific from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 target price on shares of Boston Scientific in a research report on Friday, September 1st. Zacks Investment Research upgraded Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Friday, October 20th. Jefferies Group reiterated a “hold” rating on shares of Boston Scientific in a research report on Thursday, September 7th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $30.00 target price on shares of Boston Scientific in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $30.97.
In related news, EVP Timothy A. Pratt sold 10,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $26.04, for a total value of $260,400.00. Following the completion of the sale, the executive vice president now directly owns 154,681 shares in the company, valued at $4,027,893.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $28.72, for a total value of $445,160.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 424,698 shares of company stock valued at $12,273,553. 0.74% of the stock is owned by corporate insiders.
Shares of Boston Scientific Corporation (NYSE BSX) opened at $25.77 on Friday. The stock has a market capitalization of $35,387.26, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.99 and a beta of 0.96. Boston Scientific Corporation has a 52-week low of $20.69 and a 52-week high of $29.93. 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 (NYSE:BSX) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The company 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%. Boston Scientific’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. analysts anticipate that Boston Scientific Corporation will post 1.25 EPS for the current year.
Boston Scientific 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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