Salem Investment Counselors Inc. Purchases 8,802 Shares of Boston Scientific Corporation (BSX)
Salem Investment Counselors Inc. raised its position in Boston Scientific Corporation (NYSE:BSX) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,175 shares of the medical equipment provider’s stock after acquiring an additional 8,802 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Boston Scientific were worth $3,683,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Valeo Financial Advisors LLC acquired a new stake in Boston Scientific in the third quarter valued at approximately $138,000. Acrospire Investment Management LLC grew its position in shares of Boston Scientific by 157.3% during the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock worth $141,000 after buying an additional 3,100 shares in the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of Boston Scientific by 14.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock worth $160,000 after buying an additional 720 shares in the last quarter. San Francisco Sentry Investment Group CA acquired a new stake in shares of Boston Scientific during the second quarter worth approximately $191,000. Finally, Ironwood Investment Counsel LLC acquired a new stake in shares of Boston Scientific during the third quarter worth approximately $204,000. 90.57% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on the stock. Canaccord Genuity assumed coverage on shares of Boston Scientific in a research report on Tuesday, October 24th. They set a “buy” rating and a $36.00 price target for the company. Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Friday, October 20th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Boston Scientific in a research report on Tuesday, October 3rd. BMO Capital Markets reissued a “buy” rating and set a $30.00 price target on shares of Boston Scientific in a research report on Friday, October 13th. Finally, SunTrust Banks reissued a “buy” rating and set a $34.00 price target on shares of Boston Scientific in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Boston Scientific has an average rating of “Buy” and an average target price of $31.03.
In related news, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific 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 transaction, the executive vice president now directly owns 164,681 shares of the company’s stock, valued at $4,647,297.82. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Valley Gold Master Fund L. Sun bought 408,006 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were purchased at an average cost of $0.45 per share, for a total transaction of $183,602.70. Over the last 90 days, insiders have sold 424,698 shares of company stock worth $12,273,553. Company insiders own 0.74% of the company’s stock.
Shares of Boston Scientific Corporation (BSX) opened at $25.71 on Thursday. Boston Scientific Corporation has a one year low of $21.03 and a one year high of $29.93. The company has a quick ratio of 0.50, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $35,170.98, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. Boston Scientific had a net margin of 9.55% and a return on equity of 23.60%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the business earned $0.27 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. equities research analysts anticipate that Boston Scientific Corporation will post 1.25 EPS for the current fiscal year.
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About Boston Scientific
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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