Kornitzer Capital Management Inc. KS Sells 146,104 Shares of Boston Scientific Co. (NYSE:BSX)

Kornitzer Capital Management Inc. KS lessened its position in Boston Scientific Co. (NYSE:BSX) by 93.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,587 shares of the medical equipment provider’s stock after selling 146,104 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Boston Scientific were worth $887,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BDF Gestion purchased a new stake in Boston Scientific during the 2nd quarter valued at $3,570,000. LRI Investments LLC bought a new stake in Boston Scientific in the 1st quarter worth about $139,000. Cetera Advisor Networks LLC raised its position in Boston Scientific by 11.8% in the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after buying an additional 21,252 shares during the last quarter. Brookstone Capital Management lifted its stake in Boston Scientific by 389.1% during the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after acquiring an additional 55,645 shares during the period. Finally, Empowered Funds LLC boosted its holdings in shares of Boston Scientific by 56.6% during the 1st quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider’s stock valued at $1,703,000 after acquiring an additional 8,982 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE BSX opened at $88.25 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a twelve month low of $50.84 and a twelve month high of $88.94. The business has a 50-day moving average price of $84.61 and a 200-day moving average price of $78.93. The firm has a market cap of $130.07 billion, a price-to-earnings ratio of 72.93, a price-to-earnings-growth ratio of 2.50 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. As a group, equities research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Buying and Selling at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the 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 transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 309,270 shares of company stock worth $26,196,718. Insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BSX. Wells Fargo & Company increased their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Mizuho raised their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Canaccord Genuity Group upped their price objective on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Deutsche Bank Aktiengesellschaft raised their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Finally, Sanford C. Bernstein increased their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.39.

Boston Scientific Profile

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.