Nippon Life Insurance Co. reduced its position in shares of Boston Scientific Co. (NYSE:BSX) by 12.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 64,320 shares of the medical equipment provider’s stock after selling 8,780 shares during the period. Nippon Life Insurance Co.’s holdings in Boston Scientific were worth $1,600,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in BSX. Capital World Investors raised its stake in shares of Boston Scientific by 2.9% in the third quarter. Capital World Investors now owns 84,331,654 shares of the medical equipment provider’s stock worth $2,007,093,000 after buying an additional 2,391,520 shares in the last quarter. State Street Corp raised its stake in shares of Boston Scientific by 3.2% in the fourth quarter. State Street Corp now owns 61,481,035 shares of the medical equipment provider’s stock worth $1,329,837,000 after buying an additional 1,907,944 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Boston Scientific by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 46,076,366 shares of the medical equipment provider’s stock worth $1,097,409,000 after buying an additional 202,502 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Boston Scientific by 2.2% in the fourth quarter. Artisan Partners Limited Partnership now owns 42,678,362 shares of the medical equipment provider’s stock worth $923,133,000 after buying an additional 921,287 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in shares of Boston Scientific by 17.8% in the fourth quarter. Janus Capital Management LLC now owns 41,575,011 shares of the medical equipment provider’s stock worth $899,562,000 after buying an additional 6,289,196 shares in the last quarter. 91.70% of the stock is owned by hedge funds and other institutional investors.
Shares of Boston Scientific Co. (NYSE:BSX) traded down 0.64% during mid-day trading on Friday, reaching $24.86. 4,287,405 shares of the company traded hands. The company has a market capitalization of $33.90 billion, a P/E ratio of 99.44 and a beta of 1.06. The firm’s 50 day moving average price is $24.59 and its 200-day moving average price is $23.21. Boston Scientific Co. has a 52-week low of $19.52 and a 52-week high of $25.65.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Thursday, February 2nd. The medical equipment provider reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.01. Boston Scientific had a return on equity of 23.70% and a net margin of 4.14%. The business earned $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period in the previous year, the business earned $0.26 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts predict that Boston Scientific Co. will post $1.25 earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on BSX shares. Guggenheim reissued a “buy” rating on shares of Boston Scientific in a report on Wednesday, April 12th. Oppenheimer Holdings Inc. set a $26.00 target price on shares of Boston Scientific and gave the company a “hold” rating in a research report on Friday, February 3rd. Jefferies Group LLC upped their target price on shares of Boston Scientific from $26.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, April 7th. BTIG Research reaffirmed a “neutral” rating on shares of Boston Scientific in a research report on Sunday, January 8th. Finally, TheStreet raised shares of Boston Scientific from a “c+” rating to a “b” rating in a research report on Tuesday, January 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $26.96.
In related news, EVP Keith D. Dawkins sold 80,783 shares of the company’s stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $25.21, for a total transaction of $2,036,539.43. Following the completion of the transaction, the executive vice president now directly owns 75,864 shares in the company, valued at approximately $1,912,531.44. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP David A. Pierce sold 3,417 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $24.84, for a total value of $84,878.28. Following the transaction, the senior vice president now owns 34,267 shares of the company’s stock, valued at $851,192.28. The disclosure for this sale can be found here. Insiders sold a total of 229,579 shares of company stock valued at $5,717,732 over the last quarter. Company insiders own 1.31% of the company’s stock.
Boston Scientific 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 businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.
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