Pura Vida Investments LLC Sells 30,546 Shares of Boston Scientific Corporation (BSX)
Pura Vida Investments LLC lessened its position in shares of Boston Scientific Corporation (NYSE:BSX) by 7.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,000 shares of the medical equipment provider’s stock after selling 30,546 shares during the quarter. Boston Scientific comprises about 5.1% of Pura Vida Investments LLC’s investment portfolio, making the stock its largest position. Pura Vida Investments LLC’s holdings in Boston Scientific were worth $11,376,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Valeo Financial Advisors LLC bought a new stake in Boston Scientific in the third quarter valued at about $138,000. Acrospire Investment Management LLC increased its holdings in Boston Scientific by 157.3% in the second quarter. Acrospire Investment Management LLC now owns 5,071 shares of the medical equipment provider’s stock valued at $141,000 after purchasing an additional 3,100 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in Boston Scientific by 14.3% in 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 purchasing an additional 720 shares during the last quarter. San Francisco Sentry Investment Group CA bought a new stake in Boston Scientific in the second quarter valued at about $191,000. Finally, Ironwood Investment Counsel LLC bought a new stake in Boston Scientific in the third quarter valued at about $204,000. 90.57% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Michael P. Phalen sold 15,500 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $28.72, for a total transaction of $445,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Valley Gold Master Fund L. Sun purchased 408,006 shares of Boston Scientific stock in a transaction that occurred on Tuesday, November 28th. The shares were bought at an average cost of $0.45 per share, with a total value of $183,602.70. Insiders have sold 424,698 shares of company stock valued at $12,273,553 over the last three months. Insiders own 0.74% of the company’s stock.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.31 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.31. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.21 billion. Boston Scientific had a return on equity of 23.60% and a net margin of 9.55%. Boston Scientific’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $0.27 earnings per share. analysts anticipate that Boston Scientific Corporation will post 1.25 EPS for the current year.
A number of research firms recently commented on BSX. BMO Capital Markets reiterated a “buy” rating and issued a $32.00 price objective on shares of Boston Scientific in a report on Tuesday. TheStreet downgraded Boston Scientific from a “b” rating to a “c+” rating in a report on Thursday, December 7th. Needham & Company LLC upgraded Boston Scientific from a “buy” rating to a “strong-buy” rating and increased their price target for the stock from $25.04 to $32.00 in a report on Friday, December 8th. SunTrust Banks set a $33.00 price target on Boston Scientific and gave the stock a “buy” rating in a report on Monday, December 4th. Finally, Cowen set a $31.00 price target on Boston Scientific and gave the stock a “buy” rating in a report on Thursday, November 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $31.03.
About Boston Scientific
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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