Independent Portfolio Consultants Inc. Sells 2,490 Shares of Boston Scientific Corporation (NYSE:BSX)

Independent Portfolio Consultants Inc. decreased its position in Boston Scientific Corporation (NYSE:BSX) by 30.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,805 shares of the medical equipment provider’s stock after selling 2,490 shares during the period. Independent Portfolio Consultants Inc.’s holdings in Boston Scientific Corporation were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BSX. Quadrant Capital Group LLC boosted its position in shares of Boston Scientific Corporation by 10.3% in the first quarter. Quadrant Capital Group LLC now owns 5,201 shares of the medical equipment provider’s stock worth $122,000 after buying an additional 487 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Boston Scientific Corporation by 7.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 5,041 shares of the medical equipment provider’s stock worth $125,000 after buying an additional 338 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in shares of Boston Scientific Corporation by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 5,266 shares of the medical equipment provider’s stock worth $131,000 after buying an additional 49 shares in the last quarter. Commerce Bank acquired a new position in shares of Boston Scientific Corporation during the first quarter worth approximately $207,000. Finally, Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Boston Scientific Corporation during the first quarter worth approximately $215,000. Hedge funds and other institutional investors own 91.87% of the company’s stock.

Boston Scientific Corporation (NYSE BSX) traded down 0.40% during mid-day trading on Friday, reaching $27.62. 4,648,524 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $27.76 and a 200-day moving average of $25.65. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $28.51. The firm has a market cap of $37.82 billion, a price-to-earnings ratio of 88.53 and a beta of 1.10.

Boston Scientific Corporation (NYSE:BSX) last posted its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.08 billion. Boston Scientific Corporation had a return on equity of 23.45% and a net margin of 5.07%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Analysts anticipate that Boston Scientific Corporation will post $1.25 earnings per share for the current year.

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A number of brokerages have commented on BSX. Zacks Investment Research cut shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. BidaskClub upgraded shares of Boston Scientific Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Boston Scientific Corporation in a research note on Wednesday, June 28th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 target price on shares of Boston Scientific Corporation in a research note on Wednesday, June 21st. Finally, Barclays PLC lifted their target price on shares of Boston Scientific Corporation from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Boston Scientific Corporation currently has a consensus rating of “Buy” and a consensus price target of $29.61.

In other news, EVP Timothy A. Pratt sold 10,000 shares of Boston Scientific Corporation stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $26.37, for a total transaction of $263,700.00. Following the sale, the executive vice president now owns 225,846 shares in the company, valued at $5,955,559.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Michael P. Phalen sold 15,500 shares of the firm’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $28.02, for a total transaction of $434,310.00. The disclosure for this sale can be found here. Insiders sold 243,579 shares of company stock valued at $6,590,050 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.

About Boston Scientific Corporation

Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven businesses: Interventional Cardiology, Cardiac Rhythm Management, Endoscopy, Peripheral Interventions, Urology and Pelvic Health, Neuromodulation, and Electrophysiology.

Institutional Ownership by Quarter for Boston Scientific Corporation (NYSE:BSX)

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