Federated Investors Inc. PA increased its position in Boston Scientific (NYSE:BSX) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,277,119 shares of the medical equipment provider’s stock after purchasing an additional 372,435 shares during the quarter. Federated Investors Inc. PA owned approximately 0.24% of Boston Scientific worth $89,530,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in BSX. Truewealth LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $116,000. Icon Wealth Partners LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $117,000. Cerebellum GP LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $126,000. Delpha Capital Management LLC bought a new position in Boston Scientific in the fourth quarter worth approximately $135,000. Finally, Alps Advisors Inc. bought a new position in Boston Scientific in the first quarter worth approximately $200,000. 89.38% of the stock is currently owned by institutional investors.
BSX has been the topic of several research analyst reports. Royal Bank of Canada reissued a “top pick” rating and issued a $32.00 price objective on shares of Boston Scientific in a research note on Monday, March 5th. Needham & Company LLC reissued a “buy” rating and issued a $35.00 price objective on shares of Boston Scientific in a research note on Tuesday, March 27th. JPMorgan Chase increased their price objective on Boston Scientific from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. ValuEngine cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Finally, Zacks Investment Research raised Boston Scientific from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $32.23.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, April 25th. The medical equipment provider reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Boston Scientific had a return on equity of 25.10% and a net margin of 1.21%. The business’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 EPS. equities research analysts expect that Boston Scientific will post 1.39 EPS for the current fiscal year.
In related news, EVP Kevin J. Ballinger sold 42,803 shares of the firm’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $28.32, for a total value of $1,212,180.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel J. Brennan sold 60,209 shares of the firm’s stock in a transaction on Monday, March 19th. The stock was sold at an average price of $27.87, for a total value of $1,678,024.83. Following the completion of the transaction, the chief financial officer now owns 299,644 shares of the company’s stock, valued at approximately $8,351,078.28. The disclosure for this sale can be found here. Insiders sold a total of 196,527 shares of company stock valued at $5,609,035 in the last three months. Insiders own 0.73% of the company’s stock.
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: 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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