Virtu Financial LLC Invests $375,000 in Boston Scientific Co. (BSX) Stock
Virtu Financial LLC acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,434 shares of the medical equipment provider’s stock, valued at approximately $375,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkwood LLC acquired a new stake in Boston Scientific during the 3rd quarter worth about $6,250,000. Panagora Asset Management Inc. grew its stake in shares of Boston Scientific by 32.0% in the 3rd quarter. Panagora Asset Management Inc. now owns 85,838 shares of the medical equipment provider’s stock valued at $3,305,000 after buying an additional 20,821 shares during the period. Korea Investment CORP grew its stake in shares of Boston Scientific by 63.9% in the 3rd quarter. Korea Investment CORP now owns 1,920,702 shares of the medical equipment provider’s stock valued at $73,947,000 after buying an additional 748,603 shares during the period. Westpac Banking Corp grew its stake in shares of Boston Scientific by 66.9% in the 3rd quarter. Westpac Banking Corp now owns 169,015 shares of the medical equipment provider’s stock valued at $6,507,000 after buying an additional 67,735 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Boston Scientific by 2,296.5% in the 3rd quarter. Canada Pension Plan Investment Board now owns 128,237 shares of the medical equipment provider’s stock valued at $4,937,000 after buying an additional 122,886 shares during the period. Institutional investors and hedge funds own 90.85% of the company’s stock.
In other Boston Scientific news, EVP Kevin J. Ballinger sold 37,430 shares of Boston Scientific stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $38.00, for a total transaction of $1,422,340.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $38.80, for a total transaction of $194,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 346,161 shares of company stock worth $13,009,952. Insiders own 0.73% of the company’s stock.
Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 24th. The medical equipment provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Boston Scientific had a net margin of 6.93% and a return on equity of 26.44%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter last year, the firm earned $0.31 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts expect that Boston Scientific Co. will post 1.39 earnings per share for the current year.
Several brokerages have recently commented on BSX. UBS Group began coverage on Boston Scientific in a research note on Tuesday, November 27th. They issued a “buy” rating and a $45.00 target price for the company. Oppenheimer restated a “hold” rating on shares of Boston Scientific in a research note on Wednesday, November 21st. BTIG Research restated a “buy” rating on shares of Boston Scientific in a research note on Wednesday, November 21st. SunTrust Banks raised their target price on Boston Scientific to $44.00 and gave the company a “buy” rating in a research note on Tuesday, November 20th. Finally, Stephens restated a “market perform” rating and issued a $40.00 target price on shares of Boston Scientific in a research note on Monday, November 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.54.
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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