Optimal Asset Management Inc. Has $1.68 Million Stock Position in Boston Scientific Co. (NYSE:BSX)
Optimal Asset Management Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 99.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 51,325 shares of the medical equipment provider’s stock after acquiring an additional 25,615 shares during the period. Optimal Asset Management Inc.’s holdings in Boston Scientific were worth $1,675,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Assetmark Inc. boosted its holdings in shares of Boston Scientific by 4,531.3% in the 4th quarter. Assetmark Inc. now owns 741 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 725 shares in the last quarter. NewSquare Capital LLC bought a new position in shares of Boston Scientific in the 1st quarter worth about $25,000. Key Financial Inc bought a new stake in Boston Scientific in the 1st quarter valued at about $28,000. Ellevest Inc. boosted its stake in Boston Scientific by 129.8% during the 1st quarter. Ellevest Inc. now owns 1,018 shares of the medical equipment provider’s stock valued at $33,000 after purchasing an additional 575 shares during the last quarter. Finally, Harwood Advisory Group LLC purchased a new position in shares of Boston Scientific in the 1st quarter worth approximately $39,000. 90.10% of the stock is currently owned by hedge funds and other institutional investors.
In other news, EVP David A. Pierce sold 14,793 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $38.00, for a total transaction of $562,134.00. Following the sale, the executive vice president now owns 15,597 shares in the company, valued at $592,686. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.70% of the stock is currently owned by company insiders.
Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, April 29th. The medical equipment provider reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). Boston Scientific had a net margin of 39.75% and a return on equity of 18.24%. The business had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business posted $0.35 EPS. Boston Scientific’s revenue for the quarter was up 2.0% on a year-over-year basis. Research analysts expect that Boston Scientific Co. will post 0.9 earnings per share for the current year.
Several analysts have issued reports on BSX shares. Argus upped their price target on shares of Boston Scientific from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. SVB Leerink cut shares of Boston Scientific from an “outperform” rating to a “market perform” rating and set a $40.00 price target on the stock. in a research note on Wednesday, April 22nd. Cfra upgraded shares of Boston Scientific from a “buy” rating to a “strong-buy” rating and decreased their price objective for the company from $50.00 to $47.00 in a research report on Monday, March 9th. Zacks Investment Research downgraded shares of Boston Scientific from a “hold” rating to a “strong sell” rating and set a $38.00 price target on the stock. in a report on Wednesday, May 6th. Finally, Wells Fargo & Co lifted their price target on shares of Boston Scientific from $40.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $44.52.
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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.
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