Envestnet Asset Management Inc. Sells 4,248 Shares of Boston Scientific Co. (BSX)
Envestnet Asset Management Inc. reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 5.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 73,018 shares of the medical equipment provider’s stock after selling 4,248 shares during the period. Envestnet Asset Management Inc.’s holdings in Boston Scientific were worth $2,387,000 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. Quad Cities Investment Group LLC acquired a new position in Boston Scientific during the 2nd quarter worth approximately $104,000. Kaizen Advisory LLC grew its holdings in Boston Scientific by 146.7% during the 2nd quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock worth $108,000 after acquiring an additional 1,962 shares in the last quarter. NumerixS Investment Technologies Inc grew its holdings in Boston Scientific by 1,650.0% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock worth $114,000 after acquiring an additional 3,300 shares in the last quarter. Sun Life Financial INC grew its holdings in Boston Scientific by 2,086.5% during the 2nd quarter. Sun Life Financial INC now owns 3,739 shares of the medical equipment provider’s stock worth $122,000 after acquiring an additional 3,568 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in Boston Scientific by 3,090.5% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,020 shares of the medical equipment provider’s stock worth $131,000 after acquiring an additional 3,894 shares in the last quarter. 90.91% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have commented on the stock. ValuEngine upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating in a report on Monday, June 11th. Royal Bank of Canada boosted their price target on shares of Boston Scientific to $36.00 and gave the stock a “top pick” rating in a report on Monday, July 23rd. Zacks Investment Research upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Monday, May 21st. Sanford C. Bernstein assumed coverage on shares of Boston Scientific in a report on Wednesday, June 27th. They set an “outperform” rating and a $38.00 price target for the company. Finally, SunTrust Banks boosted their price target on shares of Boston Scientific to $39.00 and gave the stock a “buy” rating in a report on Monday, July 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eighteen have assigned a buy rating and three have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $36.18.
Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Boston Scientific had a net margin of 5.48% and a return on equity of 26.35%. The business had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. research analysts expect that Boston Scientific Co. will post 1.39 earnings per share for the current year.
In related news, SVP John Bradley Sorenson sold 10,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $35.86, for a total transaction of $358,600.00. Following the completion of the sale, the senior vice president now owns 44,636 shares in the company, valued at approximately $1,600,646.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $162,100.00. Following the sale, the executive vice president now owns 29,201 shares of the company’s stock, valued at approximately $946,696.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 175,250 shares of company stock valued at $6,196,995. 0.73% of the stock is owned by company insiders.
Boston Scientific Profile
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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