WCM Investment Management CA Acquires 271,351 Shares of Boston Scientific Corporation (BSX)
WCM Investment Management CA increased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 11.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,738,789 shares of the medical equipment provider’s stock after purchasing an additional 271,351 shares during the period. Boston Scientific accounts for about 0.8% of WCM Investment Management CA’s investment portfolio, making the stock its 25th biggest holding. WCM Investment Management CA’s holdings in Boston Scientific were worth $67,894,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in BSX. Prudential Financial Inc. increased its stake in Boston Scientific by 149.1% during the 3rd quarter. Prudential Financial Inc. now owns 4,762,674 shares of the medical equipment provider’s stock worth $138,928,000 after buying an additional 2,850,630 shares during the period. American Century Companies Inc. increased its stake in Boston Scientific by 28.9% during the 3rd quarter. American Century Companies Inc. now owns 10,496,489 shares of the medical equipment provider’s stock worth $306,183,000 after buying an additional 2,352,297 shares during the period. Sirios Capital Management L P increased its stake in Boston Scientific by 373.5% during the 3rd quarter. Sirios Capital Management L P now owns 1,896,262 shares of the medical equipment provider’s stock worth $55,314,000 after buying an additional 1,495,821 shares during the period. Lord Abbett & CO. LLC purchased a new stake in Boston Scientific during the 2nd quarter worth approximately $40,460,000. Finally, Koch Industries Inc. increased its stake in Boston Scientific by 7,722.1% during the 2nd quarter. Koch Industries Inc. now owns 964,072 shares of the medical equipment provider’s stock worth $931,000 after buying an additional 951,747 shares during the period. 90.15% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. Jefferies Group reissued a “neutral” rating on shares of Boston Scientific in a research report on Friday, February 2nd. TheStreet raised shares of Boston Scientific from a “c+” rating to a “b” rating in a research report on Thursday, January 18th. Barclays reissued a “buy” rating and issued a $32.00 price objective on shares of Boston Scientific in a research report on Wednesday, January 10th. Zacks Investment Research raised shares of Boston Scientific from a “sell” rating to a “hold” rating in a research report on Tuesday, January 30th. Finally, BMO Capital Markets increased their price objective on shares of Boston Scientific from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, October 27th. 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 company presently has a consensus rating of “Buy” and an average price target of $31.00.
Boston Scientific (NYSE:BSX) last posted its earnings results on Thursday, February 1st. The medical equipment provider reported $0.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.34. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.39 billion. Boston Scientific had a net margin of 1.15% and a return on equity of 24.04%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period last year, the firm posted $0.30 EPS. research analysts predict that Boston Scientific Corporation will post 1.37 earnings per share for the current fiscal year.
In related news, SVP David A. Pierce sold 5,152 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $27.00, for a total transaction of $139,104.00. Following the completion of the sale, the senior vice president now owns 38,116 shares in the company, valued at approximately $1,029,132. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP David A. Pierce sold 8,763 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $27.74, for a total transaction of $243,085.62. Following the sale, the senior vice president now owns 24,201 shares of the company’s stock, valued at approximately $671,335.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 76,237 shares of company stock valued at $1,996,806. 0.74% of the stock is owned by company insiders.
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About Boston Scientific
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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