LFA Lugano Financial Advisors SA purchased a new position in Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 22,008 shares of the medical equipment provider’s stock, valued at approximately $715,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BSX. Thrivent Financial for Lutherans increased its position in Boston Scientific by 286.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 215,426 shares of the medical equipment provider’s stock worth $5,885,000 after buying an additional 159,749 shares during the period. Systematic Financial Management LP increased its position in shares of Boston Scientific by 51.3% during the first quarter. Systematic Financial Management LP now owns 18,000 shares of the medical equipment provider’s stock valued at $492,000 after purchasing an additional 6,100 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Boston Scientific by 5.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 38,234 shares of the medical equipment provider’s stock valued at $1,044,000 after purchasing an additional 2,143 shares during the period. Personal Capital Advisors Corp bought a new stake in shares of Boston Scientific during the first quarter valued at approximately $256,000. Finally, Toronto Dominion Bank increased its position in shares of Boston Scientific by 15.5% during the first quarter. Toronto Dominion Bank now owns 741,029 shares of the medical equipment provider’s stock valued at $20,241,000 after purchasing an additional 99,579 shares during the period. 90.93% of the stock is currently owned by institutional investors.
Boston Scientific stock traded up $0.99 on Friday, reaching $36.99. The company’s stock had a trading volume of 8,737,432 shares, compared to its average volume of 7,570,248. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.60 and a current ratio of 0.83. The firm has a market cap of $53.24 billion, a P/E ratio of 29.36, a P/E/G ratio of 2.68 and a beta of 0.59. Boston Scientific Co. has a twelve month low of $24.54 and a twelve month high of $39.44.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 25th. The medical equipment provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.47 billion. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The business’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 earnings per share. On average, equities research analysts predict that Boston Scientific Co. will post 1.39 earnings per share for the current year.
In other Boston Scientific news, SVP John Bradley Sorenson sold 10,000 shares of the business’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $35.86, for a total value of $358,600.00. Following the transaction, the senior vice president now owns 44,636 shares of the company’s stock, valued at $1,600,646.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $38.80, for a total value of $194,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 295,834 shares of company stock worth $11,038,468. Insiders own 0.73% of the company’s stock.
A number of analysts have recently issued reports on BSX shares. Sanford C. Bernstein started coverage on Boston Scientific in a research report on Wednesday, June 27th. They set an “outperform” rating and a $38.00 price objective on the stock. Needham & Company LLC restated a “strong-buy” rating on shares of Boston Scientific in a research report on Friday, July 6th. BMO Capital Markets boosted their price objective on Boston Scientific to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, July 10th. Zacks Investment Research cut Boston Scientific from a “buy” rating to a “sell” rating in a research report on Tuesday, July 17th. Finally, SunTrust Banks boosted their price objective on Boston Scientific to $39.00 and gave the company a “buy” rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.87.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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