Jennison Associates LLC lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,990,610 shares of the medical equipment provider’s stock after selling 11,204 shares during the period. Jennison Associates LLC owned 0.14% of Boston Scientific worth $85,556,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investors Research Corp lifted its stake in shares of Boston Scientific by 333.3% in the 2nd quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 500 shares during the last quarter. Next Capital Management LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $29,000. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Boston Scientific by 60.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Essex Savings Bank acquired a new position in shares of Boston Scientific in the 1st quarter valued at $31,000. Finally, Westside Investment Management Inc. acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $31,000. 89.30% of the stock is currently owned by institutional investors.
In other news, SVP John Bradley Sorenson sold 6,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $42.79, for a total value of $256,740.00. Following the transaction, the senior vice president now owns 42,385 shares in the company, valued at approximately $1,813,654.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xin Warren Wang sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $38.45, for a total value of $384,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,289 shares of company stock worth $2,611,790. Company insiders own 0.66% of the company’s stock.
Shares of BSX traded down $1.52 during mid-day trading on Friday, reaching $41.17. The company’s stock had a trading volume of 3,960,930 shares, compared to its average volume of 4,764,121. Boston Scientific Co. has a 12-month low of $31.56 and a 12-month high of $43.66. The stock has a market cap of $59.47 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 2.55 and a beta of 0.80. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.31 and a quick ratio of 1.04. The company’s 50 day moving average is $42.48 and its 200 day moving average is $39.81.
Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.01. Boston Scientific had a return on equity of 23.29% and a net margin of 13.85%. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.
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: 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.
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