Great Lakes Advisors LLC Purchases New Holdings in Boston Scientific Co. (BSX)
Great Lakes Advisors LLC purchased a new position in shares of Boston Scientific Co. (NYSE:BSX) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 35,721 shares of the medical equipment provider’s stock, valued at approximately $1,371,000.
Several other hedge funds also recently bought and sold shares of the stock. 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 acquiring an additional 808,650 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Boston Scientific by 12.9% in the first quarter. IFM Investors Pty Ltd now owns 90,005 shares of the medical equipment provider’s stock valued at $3,454,000 after acquiring an additional 10,276 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 acquiring an additional 770,542 shares during the last quarter. Legacy Bridge LLC lifted its stake in Boston Scientific by 15.3% in the first quarter. Legacy Bridge LLC now owns 3,767 shares of the medical equipment provider’s stock valued at $145,000 after acquiring an additional 500 shares during the last quarter. Finally, Insight Wealth Strategies LLC acquired a new stake in Boston Scientific in the fourth quarter valued at approximately $882,000. Institutional investors and hedge funds own 91.31% of the company’s stock.
In other news, EVP David A. Pierce sold 5,000 shares of Boston Scientific stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $37.10, for a total value of $185,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maulik Nanavaty sold 3,038 shares of Boston Scientific 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 three months, insiders sold 258,500 shares of company stock worth $10,341,910. Insiders own 0.66% of the company’s stock.
NYSE:BSX opened at $37.79 on Friday. Boston Scientific Co. has a 12 month low of $29.96 and a 12 month high of $41.00. The company has a market capitalization of $52.43 billion, a PE ratio of 25.71, a PEG ratio of 2.23 and a beta of 0.83. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39.
Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.36 by ($0.01). Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business earned $0.33 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict that Boston Scientific Co. will post 1.55 earnings per share for the current fiscal year.
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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