State Treasurer State of Michigan cut its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 3.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 396,196 shares of the medical equipment provider’s stock after selling 15,900 shares during the quarter. State Treasurer State of Michigan’s holdings in Boston Scientific were worth $14,002,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BSX. We Are One Seven LLC purchased a new stake in Boston Scientific during the fourth quarter valued at about $27,000. Ipswich Investment Management Co. Inc. purchased a new stake in Boston Scientific during the fourth quarter valued at about $28,000. CWM LLC lifted its holdings in Boston Scientific by 54.3% during the fourth quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 359 shares during the last quarter. West Oak Capital LLC lifted its holdings in Boston Scientific by 40.0% during the fourth quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Finally, Exane Derivatives lifted its holdings in Boston Scientific by 116,300.0% during the fourth quarter. Exane Derivatives now owns 1,164 shares of the medical equipment provider’s stock valued at $41,000 after purchasing an additional 1,163 shares during the last quarter. 90.80% of the stock is currently owned by institutional investors and hedge funds.
In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $38.15, for a total transaction of $190,750.00. Following the transaction, the executive vice president now directly owns 29,201 shares in the company, valued at $1,114,018.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Arthur C. Butcher sold 4,000 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $38.50, for a total transaction of $154,000.00. The disclosure for this sale can be found here. Insiders have sold 95,724 shares of company stock worth $3,504,373 over the last quarter. Company insiders own 0.73% of the company’s stock.
BSX stock opened at $38.23 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $52.24 billion, a P/E ratio of 30.34, a P/E/G ratio of 2.20 and a beta of 0.83. Boston Scientific Co. has a 1-year low of $25.04 and a 1-year high of $39.44.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.57 billion. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. Boston Scientific’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share. As a group, sell-side analysts predict that Boston Scientific Co. will post 1.39 earnings per share for the current year.
BSX has been the topic of several recent research reports. Barclays initiated coverage on shares of Boston Scientific in a report on Monday, October 15th. They set an “overweight” rating and a $43.00 price objective on the stock. Argus upped their price target on Boston Scientific from $41.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, October 26th. Canaccord Genuity upped their price target on Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, October 25th. BTIG Research reiterated a “buy” rating and set a $45.00 price target on shares of Boston Scientific in a research report on Tuesday, October 16th. Finally, UBS Group initiated coverage on Boston Scientific in a research report on Tuesday, November 27th. They set a “buy” rating and a $45.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $40.12.
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.
See Also: Current Ratio
Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.