Emerald Acquisition Ltd. increased its stake in shares of Boston Scientific Corp. (NYSE:BSX) by 48.8% during the third quarter, Holdings Channel reports. The firm owned 1,218,446 shares of the company’s stock after buying an additional 399,432 shares during the period. Emerald Acquisition Ltd.’s holdings in Boston Scientific Corp. were worth $28,992,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Eaton Vance Management increased its position in Boston Scientific Corp. by 14,198.2% in the second quarter. Eaton Vance Management now owns 3,907,561 shares of the company’s stock valued at $91,320,000 after buying an additional 3,880,232 shares during the period. BlackRock Investment Management LLC boosted its stake in Boston Scientific Corp. by 98.3% in the second quarter. BlackRock Investment Management LLC now owns 7,165,917 shares of the company’s stock worth $167,467,000 after buying an additional 3,552,349 shares in the last quarter. Marshall Wace LLP boosted its stake in Boston Scientific Corp. by 1,748.3% in the second quarter. Marshall Wace LLP now owns 3,258,892 shares of the company’s stock worth $76,159,000 after buying an additional 3,082,574 shares in the last quarter. Columbus Circle Investors acquired a new stake in Boston Scientific Corp. during the second quarter worth approximately $64,918,000. Finally, BlackRock Advisors LLC boosted its stake in Boston Scientific Corp. by 19.1% in the second quarter. BlackRock Advisors LLC now owns 16,722,404 shares of the company’s stock worth $390,803,000 after buying an additional 2,677,033 shares in the last quarter. Institutional investors own 89.72% of the company’s stock.
Shares of Boston Scientific Corp. (NYSE:BSX) traded down 0.05% during mid-day trading on Wednesday, hitting $21.75. The company had a trading volume of 1,098,339 shares. The firm has a 50-day moving average price of $21.18 and a 200 day moving average price of $22.86. The firm has a market capitalization of $29.62 billion, a price-to-earnings ratio of 410.38 and a beta of 1.09. Boston Scientific Corp. has a 52-week low of $15.67 and a 52-week high of $24.79.
Boston Scientific Corp. (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.27 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.27. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. Boston Scientific Corp. had a return on equity of 23.25% and a net margin of 0.99%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts expect that Boston Scientific Corp. will post $1.10 earnings per share for the current year.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Boston Scientific Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 31st. Argus raised Boston Scientific Corp. from a “hold” rating to a “buy” rating and raised their price target for the company from $23.82 to $33.00 in a report on Thursday, September 1st. They noted that the move was a valuation call. Citigroup Inc. raised their price target on Boston Scientific Corp. from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, October 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $28.00 price target on shares of Boston Scientific Corp. in a report on Friday, October 14th. Finally, TheStreet raised Boston Scientific Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, October 26th. Six analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Boston Scientific Corp. has an average rating of “Buy” and a consensus price target of $25.61.
In other news, EVP Timothy A. Pratt sold 26,726 shares of the business’s stock in a transaction that occurred on Thursday, December 1st. The stock was sold at an average price of $20.48, for a total transaction of $547,348.48. Following the completion of the sale, the executive vice president now owns 260,430 shares in the company, valued at $5,333,606.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.31% of the company’s stock.
Boston Scientific Corp. Company Profile
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 core businesses: Interventional Cardiology, Peripheral Interventions (PI), Cardiac Rhythm Management (CRM), Electrophysiology (EP), Endoscopy, Urology and Pelvic Health, and Neuromodulation.
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