Northpointe Capital LLC Invests $2.41 Million in Boston Scientific Co. (BSX) Stock

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Northpointe Capital LLC purchased a new position in Boston Scientific Co. (NYSE:BSX) in the 1st quarter, Holdings Channel reports. The fund purchased 62,774 shares of the medical equipment provider’s stock, valued at approximately $2,409,000.

A number of other institutional investors have also bought and sold shares of BSX. We Are One Seven LLC bought a new stake in Boston Scientific in the fourth quarter worth $27,000. Ipswich Investment Management Co. Inc. bought a new stake in Boston Scientific in the fourth quarter worth $28,000. Athena Capital Advisors LLC bought a new stake in Boston Scientific in the fourth quarter worth $28,000. CWM LLC lifted its stake in Boston Scientific by 54.3% in the fourth quarter. CWM LLC now owns 1,020 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 359 shares during the last quarter. Finally, West Oak Capital LLC lifted its stake in Boston Scientific by 40.0% in the fourth quarter. West Oak Capital LLC now owns 1,050 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 300 shares during the last quarter. 91.70% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Arthur C. Butcher sold 15,225 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $39.95, for a total transaction of $608,238.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction dated 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 owns 29,201 shares in the company, valued at approximately $1,114,018.15. The disclosure for this sale can be found here. Insiders have sold 342,352 shares of company stock worth $13,701,434 in the last quarter. 0.66% of the stock is owned by corporate insiders.

Shares of NYSE:BSX traded down $0.58 during midday trading on Wednesday, hitting $35.60. 5,466,628 shares of the stock traded hands, compared to its average volume of 6,543,217. Boston Scientific Co. has a one year low of $27.91 and a one year high of $41.00. The company has a current ratio of 0.76, a quick ratio of 0.54 and a debt-to-equity ratio of 0.55. The company has a market cap of $50.29 billion, a price-to-earnings ratio of 24.21, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.02. Boston Scientific had a net margin of 17.01% and a return on equity of 25.92%. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. Boston Scientific’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, research analysts forecast that Boston Scientific Co. will post 1.55 EPS for the current fiscal year.

BSX has been the subject of several recent research reports. Canaccord Genuity lowered their price target on shares of Boston Scientific from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday. Argus boosted their price target on shares of Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. SunTrust Banks reissued a “buy” rating and issued a $47.00 price target on shares of Boston Scientific in a research note on Friday, February 8th. Guggenheim reissued a “buy” rating and issued a $48.00 price target on shares of Boston Scientific in a research note on Friday, February 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Boston Scientific in a research note on Wednesday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $40.72.

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Boston Scientific 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.

Further Reading: Systematic Risk and Investors

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).

Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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