Sector Gamma AS Has $47.64 Million Stake in Boston Scientific Co. (NYSE:BSX)

Sector Gamma AS cut its stake in Boston Scientific Co. (NYSE:BSX) by 0.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,108,336 shares of the medical equipment provider’s stock after selling 6,838 shares during the period. Boston Scientific makes up approximately 7.7% of Sector Gamma AS’s investment portfolio, making the stock its 3rd biggest position. Sector Gamma AS owned approximately 0.08% of Boston Scientific worth $47,636,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Investors Research Corp lifted its stake in Boston Scientific by 333.3% during the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 500 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Boston Scientific by 60.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 300 shares during the last quarter. Essex Savings Bank acquired a new stake in Boston Scientific during the first quarter valued at approximately $31,000. Westside Investment Management Inc. acquired a new stake in Boston Scientific during the second quarter valued at approximately $31,000. Finally, NEXT Financial Group Inc lifted its stake in Boston Scientific by 222.3% during the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 538 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

BSX has been the subject of several recent research reports. Stifel Nicolaus increased their target price on shares of Boston Scientific from $44.00 to $46.00 and gave the company an “in-line” rating in a research note on Thursday, June 27th. Canaccord Genuity increased their target price on shares of Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Needham & Company LLC set a $46.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 24th. Leerink Swann set a $50.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, BTIG Research set a $46.00 target price on shares of Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Boston Scientific presently has an average rating of “Buy” and an average target price of $44.91.



Shares of NYSE:BSX traded up $0.52 during mid-day trading on Tuesday, hitting $42.85. The stock had a trading volume of 1,826,859 shares, compared to its average volume of 5,790,351. The company has a current ratio of 1.31, a quick ratio of 1.04 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $59.17 billion, a P/E ratio of 29.15, a PEG ratio of 2.59 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $31.56 and a 12-month high of $43.66. The firm’s 50 day simple moving average is $42.51.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 EPS. As a group, equities research analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current fiscal year.

In other Boston Scientific news, EVP David A. Pierce sold 5,140 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $38.45, for a total value of $197,633.00. Following the transaction, the executive vice president now owns 27,173 shares in the company, valued at approximately $1,044,801.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Maulik Nanavaty sold 3,038 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $36.74, for a total transaction of $111,616.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,327 shares of company stock valued at $2,466,666. 0.66% of the stock is owned by 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: 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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