Principal Financial Group Inc. Buys 33,763 Shares of Boston Scientific Corporation (BSX)
Principal Financial Group Inc. boosted its position in shares of Boston Scientific Corporation (NYSE:BSX) by 1.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,983,944 shares of the medical equipment provider’s stock after buying an additional 33,763 shares during the period. Principal Financial Group Inc. owned about 0.14% of Boston Scientific Corporation worth $49,340,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake 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 valued at $122,000 after buying an additional 487 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake 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 valued at $125,000 after buying an additional 338 shares in the last quarter. Commerce Bank bought a new stake in shares of Boston Scientific Corporation during the first quarter valued at $207,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Boston Scientific Corporation during the first quarter valued at $215,000. Finally, Breton Hill Capital Ltd. bought a new stake in shares of Boston Scientific Corporation during the first quarter valued at $224,000. Institutional investors and hedge funds own 92.04% of the company’s stock.
Boston Scientific Corporation (NYSE BSX) traded up 2.05% during midday trading on Monday, hitting $28.32. The company had a trading volume of 4,013,336 shares. Boston Scientific Corporation has a 52 week low of $19.67 and a 52 week high of $28.35. The stock has a market capitalization of $38.78 billion, a PE ratio of 90.77 and a beta of 1.05. The stock has a 50 day moving average price of $26.98 and a 200-day moving average price of $24.54.
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 the consensus estimate of $0.30 by $0.01. Boston Scientific Corporation had a net margin of 5.07% and a return on equity of 23.45%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the business posted $0.28 EPS. Boston Scientific Corporation’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, equities analysts predict that Boston Scientific Corporation will post $1.25 EPS for the current year.
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Several research analysts have recently commented on BSX shares. Northland Securities reissued a “positive” rating on shares of Boston Scientific Corporation in a report on Thursday, February 23rd. Needham & Company LLC reissued a “buy” rating and set a $29.00 price objective on shares of Boston Scientific Corporation in a report on Thursday, February 23rd. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Boston Scientific Corporation in a research note on Thursday, February 23rd. TheStreet lowered Boston Scientific Corporation from a “b” rating to a “c+” rating in a research note on Thursday, March 16th. Finally, Zacks Investment Research lowered Boston Scientific Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, April 5th. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific Corporation has a consensus rating of “Buy” and an average target price of $28.41.
In other news, EVP Michael P. Phalen sold 79,045 shares of the firm’s stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $24.55, for a total transaction of $1,940,554.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy A. Pratt sold 10,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $24.87, for a total value of $248,700.00. Following the transaction, the executive vice president now owns 235,846 shares of the company’s stock, valued at $5,865,490.02. The disclosure for this sale can be found here. Insiders sold 217,916 shares of company stock valued at $5,606,540 over the last quarter. 0.74% of the stock is currently owned by company insiders.
Boston Scientific Corporation Company 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.
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