CHB Investment Group LLC Purchases New Shares in Boston Scientific Co. (NYSE:BSX)

by · The Markets Daily

CHB Investment Group LLC purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 34,604 shares of the medical equipment provider’s stock, valued at approximately $2,900,000. Boston Scientific makes up 1.5% of CHB Investment Group LLC’s investment portfolio, making the stock its 25th largest position.

A number of other large investors have also added to or reduced their stakes in BSX. Capital World Investors grew its holdings in Boston Scientific by 69.9% during the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Marshall Wace LLP grew its holdings in Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock valued at $517,544,000 after purchasing an additional 3,608,158 shares in the last quarter. Capital Research Global Investors acquired a new stake in Boston Scientific during the 1st quarter valued at $182,897,000. Vanguard Group Inc. boosted its stake in Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 316,253 shares of company stock valued at $26,714,298 over the last 90 days. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

NYSE BSX opened at $86.64 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $127.11 billion, a PE ratio of 72.63, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a 50 day moving average price of $82.25 and a two-hundred day moving average price of $76.95. Boston Scientific Co. has a 12-month low of $49.15 and a 12-month high of $88.09.

Boston Scientific (NYSE:BSX – Get Free Report) last posted its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the previous year, the company earned $0.53 earnings per share. The company’s revenue was up 14.5% compared to the same quarter last year. As a group, equities analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BSX. Raymond James raised their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Needham & Company LLC downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $86.00 price objective on the stock. in a research report on Friday. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Barclays lifted their price objective on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.55.

Read Our Latest Stock Report on Boston Scientific

Boston Scientific Profile

(Free Report)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.

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