Daiwa Securities Group Inc. reduced its position in shares of Boston Scientific Corporation (NYSE:BSX) by 28.5% during the second quarter, Holdings Channel reports. The fund owned 65,797 shares of the medical equipment provider’s stock after selling 26,200 shares during the period. Daiwa Securities Group Inc.’s holdings in Boston Scientific Corporation were worth $1,824,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Gulf International Bank UK Ltd boosted its stake in Boston Scientific Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 415,615 shares of the medical equipment provider’s stock valued at $10,336,000 after buying an additional 5,400 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 487 shares during the last quarter. National Pension Service boosted its stake in Boston Scientific Corporation by 0.6% in the first quarter. National Pension Service now owns 1,058,667 shares of the medical equipment provider’s stock valued at $25,884,000 after buying an additional 6,634 shares during the last quarter. WCM Investment Management CA boosted its stake in Boston Scientific Corporation by 0.7% in the first quarter. WCM Investment Management CA now owns 1,866,739 shares of the medical equipment provider’s stock valued at $46,426,000 after buying an additional 13,459 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Boston Scientific Corporation by 2.3% in the first quarter. Bank of Montreal Can now owns 511,136 shares of the medical equipment provider’s stock valued at $12,711,000 after buying an additional 11,611 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

Boston Scientific Corporation (BSX) opened at 26.51 on Wednesday. The company has a market cap of $36.33 billion, a price-to-earnings ratio of 47.42 and a beta of 1.09. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $28.51. The stock has a 50 day moving average price of $27.55 and a 200 day moving average price of $25.94.

Boston Scientific Corporation (NYSE:BSX) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The company had revenue of $2.26 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter last year, the business posted $0.27 earnings per share. The firm’s revenue was up 6.2% compared to the same quarter last year. On average, equities analysts forecast that Boston Scientific Corporation will post $1.26 earnings per share for the current year.

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Several analysts recently weighed in on the company. Zacks Investment Research cut Boston Scientific Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 29th. BMO Capital Markets reissued a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a report on Wednesday, June 21st. Royal Bank Of Canada reissued an “ourperform” rating and set a $29.00 price target (down from $31.00) on shares of Boston Scientific Corporation in a report on Friday, June 9th. Needham & Company LLC lifted their price target on Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 22nd. Finally, BidaskClub raised Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Boston Scientific Corporation presently has a consensus rating of “Buy” and an average target price of $30.06.

In related news, SVP John Bradley Sorenson sold 2,100 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $27.15, for a total value of $57,015.00. Following the sale, the senior vice president now owns 18,880 shares in the company, valued at $512,592. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Wendy Carruthers sold 12,433 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $26.75, for a total value of $332,582.75. The disclosure for this sale can be found here. Insiders sold 236,489 shares of company stock worth $6,440,888 in the last quarter. 0.74% of the stock is currently owned by company insiders.

About Boston Scientific Corporation

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

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