Boston Scientific Co. (BSX) Shares Bought by Public Employees Retirement System of Ohio
Public Employees Retirement System of Ohio increased its position in Boston Scientific Co. (NYSE:BSX) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 965,855 shares of the medical equipment provider’s stock after purchasing an additional 19,383 shares during the period. Public Employees Retirement System of Ohio owned 0.07% of Boston Scientific worth $31,583,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC boosted its stake in Boston Scientific by 3.1% in the second quarter. Cubist Systematic Strategies LLC now owns 51,105 shares of the medical equipment provider’s stock valued at $1,671,000 after acquiring an additional 1,547 shares during the period. Captrust Financial Advisors boosted its stake in Boston Scientific by 103.8% in the second quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock valued at $102,000 after acquiring an additional 1,594 shares during the period. Somerset Group LLC boosted its stake in Boston Scientific by 3.4% in the second quarter. Somerset Group LLC now owns 49,838 shares of the medical equipment provider’s stock valued at $1,630,000 after acquiring an additional 1,638 shares during the period. Bainco International Investors boosted its stake in Boston Scientific by 0.8% in the second quarter. Bainco International Investors now owns 208,514 shares of the medical equipment provider’s stock valued at $6,818,000 after acquiring an additional 1,729 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in shares of Boston Scientific by 2.7% during the first quarter. Commonwealth Equity Services LLC now owns 71,279 shares of the medical equipment provider’s stock valued at $1,947,000 after buying an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 90.93% of the company’s stock.
In other Boston Scientific news, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $38.80, for a total transaction of $194,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP John Bradley Sorenson sold 10,000 shares of Boston Scientific stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $35.86, for a total transaction of $358,600.00. Following the transaction, the senior vice president now owns 44,636 shares in the company, valued at $1,600,646.96. The disclosure for this sale can be found here. Insiders sold 295,834 shares of company stock worth $11,038,468 in the last ninety days. 0.73% of the stock is owned by corporate insiders.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.07. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. The firm’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, research analysts forecast that Boston Scientific Co. will post 1.39 earnings per share for the current year.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on Boston Scientific from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Boston Scientific in a report on Tuesday, September 25th. Wells Fargo & Co lifted their price target on Boston Scientific from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $43.00 price target (up previously from $39.00) on shares of Boston Scientific in a report on Friday, September 7th. Finally, Argus lifted their price target on Boston Scientific to $41.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $36.87.
Boston Scientific Company 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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