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

Kornitzer Capital Management Inc. KS lessened its holdings in Boston Scientific Co. (NYSE:BSX - Free Report) by 93.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BSX. Csenge Advisory Group bought a new stake in Boston Scientific during the first quarter valued at about $246,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Boston Scientific by 7.5% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 75,878 shares of the medical equipment provider's stock valued at $5,197,000 after acquiring an additional 5,305 shares during the period. Empowered Funds LLC increased its holdings in Boston Scientific by 56.6% in the 1st quarter. Empowered Funds LLC now owns 24,858 shares of the medical equipment provider's stock worth $1,703,000 after acquiring an additional 8,982 shares in the last quarter. KCM Investment Advisors LLC raised its stake in Boston Scientific by 1.7% during the 1st quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider's stock worth $632,000 after acquiring an additional 150 shares during the period. Finally, Allegheny Financial Group LTD lifted its holdings in Boston Scientific by 8.9% during the first quarter. Allegheny Financial Group LTD now owns 19,032 shares of the medical equipment provider's stock valued at $1,304,000 after purchasing an additional 1,553 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.

Insiders Place Their Bets

In other news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares in the company, valued at approximately $2,913,967.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael F. Mahoney sold 162,777 shares of the company's stock in a transaction dated Monday, October 7th. The stock was 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 over the last 90 days. Insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BSX shares. Sanford C. Bernstein raised their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Raymond James boosted their price objective on Boston Scientific from $91.00 to $94.00 and gave the company a "strong-buy" rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their target price on Boston Scientific from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Thursday, July 25th. Barclays boosted their price target on Boston Scientific from $78.00 to $86.00 and gave the stock an "overweight" rating in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group increased their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the company a "buy" rating in a report on Monday, October 21st. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $93.39.

Boston Scientific Trading Up 1.6 %

NYSE:BSX traded up $1.37 during midday trading on Friday, hitting $88.25. 5,242,205 shares of the company traded hands, compared to its average volume of 7,294,248. The firm has a market capitalization of $130.07 billion, a P/E ratio of 72.93, a P/E/G ratio of 2.55 and a beta of 0.79. The firm's fifty day moving average is $84.61 and its 200-day moving average is $78.93. Boston Scientific Co. has a 12-month low of $50.84 and a 12-month high of $88.94. The company has a current ratio of 1.48, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter in the prior year, the firm posted $0.50 earnings per share. The business's revenue for the quarter was up 19.3% on a year-over-year basis. On average, sell-side analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific Company 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.