Boston Scientific Co. (BSX) Position Cut by Bainco International Investors

Bainco International Investors lowered its stake in shares of Boston Scientific Co. (NYSE:BSX) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 205,159 shares of the medical equipment provider’s stock after selling 4,435 shares during the period. Bainco International Investors’ holdings in Boston Scientific were worth $7,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Independent Advisor Alliance acquired a new position in shares of Boston Scientific during the first quarter valued at about $297,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Boston Scientific by 7.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 81,027 shares of the medical equipment provider’s stock valued at $3,110,000 after purchasing an additional 5,535 shares during the period. Hanson McClain Inc. raised its holdings in shares of Boston Scientific by 107.6% during the first quarter. Hanson McClain Inc. now owns 903 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 468 shares during the period. New York State Teachers Retirement System raised its holdings in shares of Boston Scientific by 0.8% during the first quarter. New York State Teachers Retirement System now owns 2,050,014 shares of the medical equipment provider’s stock valued at $78,680,000 after purchasing an additional 15,434 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD raised its holdings in shares of Boston Scientific by 4.5% during the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 137,610 shares of the medical equipment provider’s stock valued at $5,281,000 after purchasing an additional 5,894 shares during the period. Hedge funds and other institutional investors own 91.43% of the company’s stock.

Several brokerages have recently weighed in on BSX. SunTrust Banks reiterated a “buy” rating and set a $47.00 price objective on shares of Boston Scientific in a report on Friday, February 8th. Argus upped their price objective on shares of Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, February 13th. Canaccord Genuity reiterated a “buy” rating and set a $45.00 price objective on shares of Boston Scientific in a report on Monday, February 11th. Guggenheim restated a “buy” rating and issued a $48.00 target price on shares of Boston Scientific in a report on Friday, February 8th. Finally, Evercore ISI upgraded shares of Boston Scientific from an “in-line” rating to an “outperform” rating and set a $36.20 target price on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $41.53.



In other news, CFO Daniel J. Brennan sold 64,223 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $40.84, for a total transaction of $2,622,867.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel J. Brennan sold 46,360 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $40.02, for a total transaction of $1,855,327.20. Following the transaction, the chief financial officer now directly owns 214,960 shares of the company’s stock, valued at $8,602,699.20. The disclosure for this sale can be found here. Insiders have sold a total of 275,678 shares of company stock valued at $11,038,872 over the last three months. Insiders own 0.66% of the company’s stock.

Boston Scientific stock opened at $37.07 on Thursday. Boston Scientific Co. has a twelve month low of $29.55 and a twelve month high of $41.00. The company has a market cap of $51.55 billion, a PE ratio of 25.22, a P/E/G ratio of 2.13 and a beta of 0.83. The company has a quick ratio of 1.12, a current ratio of 1.39 and a debt-to-equity ratio of 0.82.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The company had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts expect that Boston Scientific Co. will post 1.55 EPS for the current fiscal year.

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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: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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