Orbimed Advisors Lowers stake in Boston Scientific Corporation (BSX)

Boston Scientific Corporation (BSX) : Orbimed Advisors reduced its stake in Boston Scientific Corporation by 7.99% during the most recent quarter end. The investment management company now holds a total of 22,479,700 shares of Boston Scientific Corporation which is valued at $537,040,033 after selling 1,951,200 shares in Boston Scientific Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Boston Scientific Corporation makes up approximately 5.09% of Orbimed Advisors’s portfolio.

Other Hedge Funds, Including , Baker Avenue Asset Management Lp reduced its stake in BSX by selling 390 shares or 1.95% in the most recent quarter. The Hedge Fund company now holds 19,570 shares of BSX which is valued at $467,527. Boston Scientific Corporation makes up approx 0.07% of Baker Avenue Asset Management Lp’s portfolio.Norinchukin Bank The boosted its stake in BSX in the latest quarter, The investment management firm added 1,972 additional shares and now holds a total of 71,169 shares of Boston Scientific Corporation which is valued at $1,698,092. Boston Scientific Corporation makes up approx 0.04% of Norinchukin Bank The’s portfolio.

Boston Scientific Corporation opened for trading at $24.07 and hit $24.35 on the upside on Thursday, eventually ending the session at $24.33, with a gain of 2.14% or 0.51 points. The heightened volatility saw the trading volume jump to 91,15,567 shares. Company has a market cap of $33,107 M.

On the company’s financial health, Boston Scientific Corporation reported $0.27 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.27. The company had revenue of $2126.00 million for the quarter, compared to analysts expectations of $2044.88 million. The company’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 EPS.

Many Wall Street Analysts have commented on Boston Scientific Corporation. Boston Scientific Corporation was Upgraded by Argus to ” Buy” on Sep 1, 2016. Company shares were Reiterated by Wedbush on Jul 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 25 from a previous price target of $23 .Company shares were Reiterated by Needham on Jul 29, 2016 to “Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $26 .

Boston Scientific Corporation develops manufactures and markets medical devices. The Company offers its products by seven core businesses: Interventional Cardiology which includes Drug-Eluting Coronary Stent Systems Intravascular Imaging devised and Coronary Technology products such as guide wires guide catheters and balloon catheters among others; Peripheral Interventions (PI) which include stents balloon catheters wires peripheral embolization devices and vena cava filters; Cardiac Rhythm Management (CRM) which include implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities; Electrophysiology (EP) which include steerable RF ablation catheters intracardiac ultrasound catheters diagnostic catheters delivery sheaths and other accessories; Endoscopy which includes Spyglass System WallFlex Colonic Stents Resolution Clip and Expect Aspiration Needle among others; Urology and Women’s Health and Neuromodulation.

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