Checchi Capital Advisers LLC Lowers Stake in Boston Scientific Corporation (BSX)

Checchi Capital Advisers LLC lowered its stake in Boston Scientific Corporation (NYSE:BSX) by 10.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,081 shares of the medical equipment provider’s stock after selling 1,472 shares during the period. Checchi Capital Advisers LLC’s holdings in Boston Scientific Corporation were worth $335,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position 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 during the period. Guardian Life Insurance Co. of America increased its position in shares of 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 buying an additional 49 shares during the period. Parametrica Management Ltd bought a new position in shares of Boston Scientific Corporation during the second quarter valued at about $219,000. Commerce Bank bought a new position in shares of Boston Scientific Corporation during the first quarter valued at about $207,000. Finally, Gilbert & Cook Inc. bought a new position in shares of Boston Scientific Corporation during the second quarter valued at about $239,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Shares of Boston Scientific Corporation (NYSE BSX) opened at 26.68 on Thursday. Boston Scientific Corporation has a 12 month low of $19.67 and a 12 month high of $28.51. The company has a 50 day moving average of $27.23 and a 200-day moving average of $26.12. The firm has a market capitalization of $36.61 billion, a P/E ratio of 47.73 and a beta of 1.09.

Boston Scientific Corporation (NYSE:BSX) last issued its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.01. Boston Scientific Corporation had a return on equity of 23.62% and a net margin of 9.04%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. Analysts predict that Boston Scientific Corporation will post $1.26 EPS for the current year.

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Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Boston Scientific Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. UBS AG restated a “buy” rating and set a $31.00 target price (up from $30.00) on shares of Boston Scientific Corporation in a research report on Tuesday, August 1st. Cowen and Company restated a “buy” rating and set a $32.00 target price (up from $31.00) on shares of Boston Scientific Corporation in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Boston Scientific Corporation in a research report on Wednesday, August 9th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $31.00 target price (up from $27.00) on shares of Boston Scientific Corporation in a research report on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $30.06.

In other Boston Scientific Corporation news, EVP Michael P. Phalen sold 15,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $27.25, for a total value of $422,375.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Timothy A. Pratt sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $27.13, for a total value of $271,300.00. Following the completion of the transaction, the executive vice president now directly owns 215,846 shares in the company, valued at $5,855,901.98. The disclosure for this sale can be found here. Over the last three months, insiders sold 207,625 shares of company stock worth $5,686,383. Insiders own 0.74% of the company’s stock.

About Boston Scientific Corporation

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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