Parkside Financial Bank & Trust trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 25.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,164 shares of the medical equipment provider’s stock after selling 721 shares during the period. Parkside Financial Bank & Trust’s holdings in Boston Scientific were worth $83,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in the business. Moors & Cabot Inc. grew its position in Boston Scientific by 64.3% in the first quarter. Moors & Cabot Inc. now owns 68,538 shares of the medical equipment provider’s stock worth $2,642,000 after acquiring an additional 26,814 shares in the last quarter. Alps Advisors Inc. raised its stake in Boston Scientific by 9.5% during the 1st quarter. Alps Advisors Inc. now owns 15,356 shares of the medical equipment provider’s stock valued at $589,000 after purchasing an additional 1,330 shares during the last quarter. Van Hulzen Asset Management LLC acquired a new position in Boston Scientific during the 1st quarter valued at $201,000. Pendal Group Ltd raised its stake in Boston Scientific by 50.5% during the 1st quarter. Pendal Group Ltd now owns 11,005 shares of the medical equipment provider’s stock valued at $422,000 after purchasing an additional 3,693 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Boston Scientific in the 1st quarter valued at $455,000. Institutional investors own 90.81% of the company’s stock.
A number of equities analysts have recently issued reports on BSX shares. BTIG Research restated a “buy” rating on shares of Boston Scientific in a research note on Thursday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $43.00 target price on shares of Boston Scientific in a report on Monday, May 13th. Canaccord Genuity lowered their target price on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Evercore ISI raised shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price on the stock in a report on Monday, May 13th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $48.00 target price on shares of Boston Scientific in a report on Friday, February 8th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Boston Scientific presently has a consensus rating of “Buy” and an average price target of $41.53.
In other news, SVP Maulik Nanavaty sold 3,038 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $36.74, for a total transaction of $111,616.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kevin J. Ballinger sold 20,900 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $40.74, for a total transaction of $851,466.00. The disclosure for this sale can be found here. Insiders have sold a total of 249,815 shares of company stock worth $9,983,667 over the last 90 days. Corporate insiders own 0.66% of the company’s stock.
Shares of NYSE:BSX traded down $0.38 during mid-day trading on Wednesday, reaching $38.07. The stock had a trading volume of 5,680,392 shares, compared to its average volume of 6,730,372. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.39 and a quick ratio of 1.12. The company has a market capitalization of $53.18 billion, a price-to-earnings ratio of 25.90, a P/E/G ratio of 2.28 and a beta of 0.83. Boston Scientific Co. has a twelve month low of $29.96 and a twelve month high of $41.00.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.54 billion. Boston Scientific had a return on equity of 24.65% and a net margin of 18.08%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.33 earnings per share. Equities research analysts expect that Boston Scientific Co. will post 1.55 earnings per share for the current year.
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Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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