Renaissance Technologies LLC Trims Position in Boston Scientific Corporation (BSX)
Renaissance Technologies LLC lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 7.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,305,605 shares of the medical equipment provider’s stock after selling 421,100 shares during the quarter. Renaissance Technologies LLC owned approximately 0.39% of Boston Scientific Corporation worth $147,071,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of BSX. BlackRock Inc. grew its position in Boston Scientific Corporation by 2,181.6% during the first quarter. BlackRock Inc. now owns 95,744,545 shares of the medical equipment provider’s stock valued at $2,381,169,000 after buying an additional 91,548,235 shares during the period. FMR LLC grew its position in Boston Scientific Corporation by 7.6% during the first quarter. FMR LLC now owns 184,708,390 shares of the medical equipment provider’s stock valued at $4,593,698,000 after buying an additional 13,105,596 shares during the period. Jennison Associates LLC grew its position in Boston Scientific Corporation by 405.3% during the second quarter. Jennison Associates LLC now owns 10,639,290 shares of the medical equipment provider’s stock valued at $294,921,000 after buying an additional 8,533,655 shares during the period. MARSHALL WACE ASIA Ltd bought a new position in Boston Scientific Corporation during the first quarter valued at about $149,859,000. Finally, Marshall Wace North America L.P. bought a new position in Boston Scientific Corporation during the first quarter valued at about $149,859,000. Institutional investors own 90.44% of the company’s stock.
Shares of Boston Scientific Corporation (NYSE:BSX) opened at 28.965 on Monday. Boston Scientific Corporation has a one year low of $19.67 and a one year high of $29.40. The stock has a market capitalization of $39.74 billion, a P/E ratio of 51.816 and a beta of 1.09. The stock has a 50 day moving average of $27.39 and a 200-day moving average of $26.61.
Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share for the quarter, beating 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 firm had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm earned $0.27 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Equities analysts forecast that Boston Scientific Corporation will post $1.26 earnings per share for the current year.
In related news, SVP John Bradley Sorenson sold 2,100 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 18,880 shares of the company’s stock, valued at approximately $512,592. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel J. Brennan sold 92,158 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $27.48, for a total value of $2,532,501.84. Following the completion of the transaction, the chief financial officer now directly owns 235,421 shares in the company, valued at $6,469,369.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 275,257 shares of company stock worth $7,512,394. Insiders own 0.74% of the company’s stock.
BSX has been the subject of several research reports. Royal Bank Of Canada increased their price target on shares of Boston Scientific Corporation from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Friday, June 9th. BidaskClub upgraded shares of Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 10th. Wells Fargo & Company restated an “outperform” rating and set a $31.00 price target (up previously from $29.50) on shares of Boston Scientific Corporation in a research report on Friday, June 16th. BMO Capital Markets restated a “buy” rating and set a $30.00 price target on shares of Boston Scientific Corporation in a research report on Wednesday, June 21st. Finally, Needham & Company LLC increased their price target on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $29.88.
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Boston Scientific Corporation 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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