Meyer Handelman Co. Acquires 2,400 Shares of Boston Scientific Co. (NYSE:BSX)
Meyer Handelman Co. grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 9.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,800 shares of the medical equipment provider’s stock after buying an additional 2,400 shares during the quarter. Meyer Handelman Co.’s holdings in Boston Scientific were worth $1,237,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in BSX. Investors Research Corp grew its stake in Boston Scientific by 333.3% in the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 500 shares in the last quarter. NEXT Financial Group Inc grew its stake in Boston Scientific by 222.3% in the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after purchasing an additional 538 shares in the last quarter. Essex Savings Bank bought a new position in Boston Scientific in the first quarter worth approximately $31,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Boston Scientific by 60.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 300 shares in the last quarter. Finally, Hanson McClain Inc. grew its stake in Boston Scientific by 107.6% in the first quarter. Hanson McClain Inc. now owns 903 shares of the medical equipment provider’s stock worth $35,000 after purchasing an additional 468 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP Joseph Michael Fitzgerald sold 1,906 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $43.00, for a total transaction of $81,958.00. Following the completion of the sale, the executive vice president now owns 226,835 shares in the company, valued at approximately $9,753,905. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David A. Pierce sold 5,000 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $37.10, for a total value of $185,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,327 shares of company stock valued at $2,439,066. Company insiders own 0.66% of the company’s stock.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Boston Scientific had a return on equity of 23.74% and a net margin of 13.85%. The business’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 EPS. As a group, research analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current year.
Several brokerages recently issued reports on BSX. Raymond James increased their price objective on Spotify Technology from $172.00 to $180.00 and gave the stock a “strong-buy” rating in a research note on Thursday. Evercore ISI began coverage on Palomar in a research note on Monday, May 13th. They issued an “outperform” rating on the stock. Piper Jaffray Companies set a $824.00 price objective on Chipotle Mexican Grill and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Co increased their price objective on Boston Scientific from $42.00 to $45.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Finally, BTIG Research reissued a “hold” rating on shares of Varian Medical Systems in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Boston Scientific presently has a consensus rating of “Buy” and a consensus price target of $44.66.
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: 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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