Vontobel Asset Management Inc. Sells 67,281 Shares of Boston Scientific Co. (BSX)
Vontobel Asset Management Inc. lowered its position in shares of Boston Scientific Co. (NYSE:BSX) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,579,734 shares of the medical equipment provider’s stock after selling 67,281 shares during the quarter. Vontobel Asset Management Inc.’s holdings in Boston Scientific were worth $51,665,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in BSX. FMR LLC boosted its holdings in shares of Boston Scientific by 10.4% in the 2nd quarter. FMR LLC now owns 156,622,452 shares of the medical equipment provider’s stock valued at $5,121,554,000 after buying an additional 14,711,069 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Boston Scientific by 8.7% in the 1st quarter. BlackRock Inc. now owns 106,292,471 shares of the medical equipment provider’s stock valued at $2,903,912,000 after buying an additional 8,510,783 shares during the last quarter. Epoch Investment Partners Inc. acquired a new stake in shares of Boston Scientific in the 2nd quarter valued at approximately $116,062,000. TD Asset Management Inc. boosted its holdings in shares of Boston Scientific by 531.8% in the 2nd quarter. TD Asset Management Inc. now owns 2,488,256 shares of the medical equipment provider’s stock valued at $81,366,000 after buying an additional 2,094,436 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in shares of Boston Scientific by 42.3% in the 1st quarter. Eaton Vance Management now owns 6,564,617 shares of the medical equipment provider’s stock valued at $179,345,000 after buying an additional 1,951,777 shares during the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.
BSX traded down $0.05 during trading hours on Friday, reaching $35.94. The company’s stock had a trading volume of 92,913 shares, compared to its average volume of 5,942,683. Boston Scientific Co. has a 52 week low of $24.54 and a 52 week high of $37.30. The company has a current ratio of 0.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.62. The stock has a market cap of $49.44 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 2.49 and a beta of 0.63.
Several equities research analysts have recently commented on BSX shares. Morgan Stanley increased their price objective on Boston Scientific from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. Piper Jaffray Companies increased their price objective on Boston Scientific to $38.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. Jefferies Financial Group reissued a “hold” rating and issued a $34.00 price objective on shares of Boston Scientific in a report on Thursday, July 26th. Stifel Nicolaus reissued a “buy” rating and issued a $37.00 price objective on shares of Boston Scientific in a report on Thursday, July 26th. Finally, Needham & Company LLC reissued a “strong-buy” rating on shares of Boston Scientific in a report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $35.86.
In other Boston Scientific news, SVP Jeffrey B. Mirviss sold 19,323 shares of the stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $32.64, for a total transaction of $630,702.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David A. Pierce sold 5,000 shares of the stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $32.42, for a total value of $162,100.00. Following the transaction, the executive vice president now owns 29,201 shares in the company, valued at approximately $946,696.42. The disclosure for this sale can be found here. Insiders have sold a total of 136,393 shares of company stock worth $4,619,864 in the last quarter. Company insiders own 0.73% of the company’s stock.
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: Cardiovascular, Rhythm Management, and MedSurg. 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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