Mercer Global Advisors Inc. ADV Takes Position in Boston Scientific Co. (BSX)
Mercer Global Advisors Inc. ADV acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,245 shares of the medical equipment provider’s stock, valued at approximately $397,000.
Other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. lifted its stake in Boston Scientific by 187.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,240,550 shares of the medical equipment provider’s stock valued at $43,836,000 after purchasing an additional 808,650 shares during the last quarter. Amundi Pioneer Asset Management Inc. lifted its stake in Boston Scientific by 26.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,727,580 shares of the medical equipment provider’s stock valued at $131,734,000 after purchasing an additional 770,542 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Boston Scientific by 9.9% in the fourth quarter. IFM Investors Pty Ltd now owns 79,729 shares of the medical equipment provider’s stock valued at $2,818,000 after purchasing an additional 7,165 shares during the last quarter. Insight Wealth Strategies LLC purchased a new position in Boston Scientific in the fourth quarter valued at approximately $882,000. Finally, Kovack Advisors Inc. purchased a new position in Boston Scientific in the fourth quarter valued at approximately $220,000. Institutional investors and hedge funds own 91.70% of the company’s stock.
Several research firms have issued reports on BSX. Argus increased their target price on Boston Scientific from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. Canaccord Genuity restated a “buy” rating and set a $45.00 target price on shares of Boston Scientific in a research report on Monday, February 11th. Guggenheim restated a “buy” rating and set a $48.00 target price on shares of Boston Scientific in a research report on Friday, February 8th. SunTrust Banks restated a “buy” rating and set a $47.00 target price on shares of Boston Scientific in a research report on Friday, February 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $43.00 target price on shares of Boston Scientific in a research report on Wednesday, February 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. Boston Scientific has a consensus rating of “Buy” and a consensus price target of $40.72.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, February 6th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.02. Boston Scientific had a return on equity of 25.92% and a net margin of 17.01%. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $0.34 earnings per share. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, analysts predict that Boston Scientific Co. will post 1.55 EPS for the current year.
In related news, EVP David A. Pierce sold 1,357 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $40.25, for a total value of $54,619.25. Following the transaction, the executive vice president now owns 38,940 shares of the company’s stock, valued at $1,567,335. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xin Warren Wang sold 10,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $40.31, for a total value of $403,100.00. The disclosure for this sale can be found here. Insiders sold 342,352 shares of company stock worth $13,701,434 in the last quarter. 0.66% of the stock is currently owned by company insiders.
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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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