Sumitomo Life Insurance Co. Sells 3,102 Shares of Boston Scientific Corporation (BSX)
Sumitomo Life Insurance Co. lowered its position in shares of Boston Scientific Corporation (NYSE:BSX) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,482 shares of the medical equipment provider’s stock after selling 3,102 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Boston Scientific Corporation were worth $3,835,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Acrospire Investment Management LLC increased its holdings in shares of Boston Scientific Corporation by 157.3% during the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after acquiring an additional 3,100 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Boston Scientific Corporation by 14.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,761 shares of the medical equipment provider’s stock valued at $160,000 after acquiring an additional 720 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in shares of Boston Scientific Corporation during the second quarter valued at $191,000. Peddock Capital Advisors LLC bought a new position in shares of Boston Scientific Corporation during the second quarter valued at $201,000. Finally, Elgethun Capital Management bought a new position in shares of Boston Scientific Corporation during the second quarter valued at $207,000. 90.30% of the stock is owned by institutional investors and hedge funds.
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BSX has been the subject of several analyst reports. Stifel Nicolaus restated a “buy” rating and set a $32.00 price target on shares of Boston Scientific Corporation in a report on Sunday, July 30th. J P Morgan Chase & Co restated an “overweight” rating and set a $31.00 price target (up from $27.00) on shares of Boston Scientific Corporation in a report on Wednesday, June 28th. Jefferies Group LLC restated a “hold” rating on shares of Boston Scientific Corporation in a report on Thursday, September 7th. BMO Capital Markets reiterated a “buy” rating and issued a $30.00 price objective on shares of Boston Scientific Corporation in a report on Friday, October 13th. Finally, Zacks Investment Research downgraded Boston Scientific Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Boston Scientific Corporation presently has an average rating of “Buy” and an average price target of $30.31.
Boston Scientific Corporation (NYSE BSX) traded up 0.71% on Monday, hitting $29.90. The stock had a trading volume of 737,117 shares. The company’s 50 day moving average is $28.99 and its 200-day moving average is $27.34. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $29.91. The stock has a market cap of $41.03 billion, a P/E ratio of 53.49 and a beta of 1.09.
Boston Scientific Corporation (NYSE:BSX) last posted its earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.27 earnings per share. Analysts forecast that Boston Scientific Corporation will post $1.26 EPS for the current year.
In related news, EVP Supratim Bose sold 347,137 shares of the firm’s stock in a transaction dated Wednesday, October 4th. The stock was sold at an average price of $29.12, for a total transaction of $10,108,629.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP John Bradley Sorenson sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $26.37, for a total value of $208,323.00. Following the sale, the senior vice president now directly owns 21,680 shares in the company, valued at $571,701.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 531,297 shares of company stock worth $15,144,095. 0.74% of the stock is owned by corporate 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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