Cerebellum GP LLC boosted its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 148.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,676 shares of the medical equipment provider’s stock after purchasing an additional 7,576 shares during the period. Boston Scientific comprises approximately 0.3% of Cerebellum GP LLC’s investment portfolio, making the stock its 26th biggest position. Cerebellum GP LLC’s holdings in Boston Scientific were worth $573,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new stake in Boston Scientific during the third quarter worth $89,000. MidWestOne Financial Group Inc. bought a new stake in Boston Scientific during the second quarter worth $444,000. BB&T Securities LLC lifted its stake in Boston Scientific by 39.3% during the third quarter. BB&T Securities LLC now owns 30,183 shares of the medical equipment provider’s stock worth $1,233,000 after purchasing an additional 8,508 shares during the last quarter. Barings LLC lifted its stake in Boston Scientific by 31.1% during the second quarter. Barings LLC now owns 86,970 shares of the medical equipment provider’s stock worth $3,738,000 after purchasing an additional 20,612 shares during the last quarter. Finally, Hancock Whitney Corp lifted its stake in Boston Scientific by 3.3% during the third quarter. Hancock Whitney Corp now owns 14,628 shares of the medical equipment provider’s stock worth $595,000 after purchasing an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 91.05% of the company’s stock.
Several research firms have weighed in on BSX. ValuEngine cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Morgan Stanley increased their price target on Boston Scientific from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Cowen reiterated a “buy” rating and issued a $52.00 price target on shares of Boston Scientific in a research note on Wednesday. Guggenheim set a $53.00 price target on Boston Scientific and gave the company a “buy” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC cut Boston Scientific from a “strong-buy” rating to a “buy” rating and set a $53.00 price target for the company. in a research note on Thursday, December 19th. One investment analyst has rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Boston Scientific currently has an average rating of “Buy” and an average price target of $48.62.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a return on equity of 23.10% and a net margin of 10.49%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same period in the prior year, the company earned $0.35 EPS. Boston Scientific’s revenue was up 13.1% compared to the same quarter last year. As a group, equities analysts forecast that Boston Scientific Co. will post 1.57 EPS for the current year.
In related news, EVP David A. Pierce sold 5,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $42.05, for a total transaction of $210,250.00. Following the completion of the transaction, the executive vice president now directly owns 29,201 shares of the company’s stock, valued at approximately $1,227,902.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Williamson Scott bought 250,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were bought at an average cost of $0.12 per share, with a total value of $30,000.00. Over the last ninety days, insiders have sold 195,751 shares of company stock valued at $8,680,501. 0.66% of the stock is owned by corporate insiders.
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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