Cambridge Investment Research Advisors Inc. Sells 1,072 Shares of Boston Scientific Corporation (BSX)

Cambridge Investment Research Advisors Inc. reduced its position in shares of Boston Scientific Corporation (NYSE:BSX) by 3.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,421 shares of the medical equipment provider’s stock after selling 1,072 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Boston Scientific Corporation were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its stake in 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 valued at $131,000 after purchasing an additional 49 shares during the period. First Personal Financial Services increased its stake in shares of Boston Scientific Corporation by 0.9% during the first quarter. First Personal Financial Services now owns 9,107 shares of the medical equipment provider’s stock worth $226,000 after acquiring an additional 80 shares during the period. Cleararc Capital Inc. boosted its holdings in Boston Scientific Corporation by 0.8% during the first quarter. Cleararc Capital Inc. now owns 33,322 shares of the medical equipment provider’s stock worth $829,000 after buying an additional 251 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Boston Scientific Corporation by 7.2% during 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. Finally, BB&T Corp boosted its holdings in Boston Scientific Corporation by 2.8% during the second quarter. BB&T Corp now owns 12,926 shares of the medical equipment provider’s stock worth $359,000 after buying an additional 349 shares in the last quarter. 90.44% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Corporation (NYSE BSX) traded up 0.31% on Friday, reaching $28.85. 3,131,553 shares of the company’s stock were exchanged. The stock has a market capitalization of $39.59 billion, a PE ratio of 51.61 and a beta of 1.09. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $29.40. The firm has a 50 day moving average of $27.39 and a 200 day moving average of $26.61.

Boston Scientific Corporation (NYSE:BSX) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $2.26 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. Boston Scientific Corporation’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share. Equities analysts predict that Boston Scientific Corporation will post $1.26 earnings per share for the current fiscal year.

A number of analysts recently commented on BSX shares. BidaskClub downgraded shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Needham & Company LLC boosted their price objective on shares of Boston Scientific Corporation from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, June 22nd. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $31.00 price target on shares of Boston Scientific Corporation in a report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $32.00 price objective on shares of Boston Scientific Corporation in a research note on Sunday, July 30th. Finally, Zacks Investment Research downgraded shares of Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $29.88.

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In related news, EVP Timothy A. Pratt sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $27.87, for a total value of $278,700.00. Following the sale, the executive vice president now directly owns 205,846 shares of the company’s stock, valued at $5,736,928.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Brennan sold 92,158 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $27.48, for a total value of $2,532,501.84. Following the completion of the sale, the chief financial officer now directly owns 235,421 shares in the company, valued at $6,469,369.08. The disclosure for this sale can be found here. Insiders sold 275,257 shares of company stock worth $7,512,394 over the last ninety days. 0.74% of the stock is currently owned by insiders.

Boston Scientific Corporation Profile

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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