Fulton Breakefield Broenniman LLC bought a new stake in Boston Scientific Co. (NYSE:BSX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,050 shares of the medical equipment provider’s stock, valued at approximately $368,000.
Several other hedge funds and other institutional investors have also modified their holdings of BSX. NuWave Investment Management LLC raised its holdings in Boston Scientific by 111.4% during the 3rd quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 380 shares during the period. Investors Research Corp raised its stake in Boston Scientific by 333.3% during the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 500 shares in the last quarter. Next Capital Management LLC acquired a new position in Boston Scientific during the second quarter worth about $29,000. Westside Investment Management Inc. acquired a new position in shares of Boston Scientific in the second quarter valued at approximately $31,000. Finally, Optimum Investment Advisors boosted its holdings in Boston Scientific by 100.0% in the third quarter. Optimum Investment Advisors now owns 800 shares of the medical equipment provider’s stock valued at $33,000 after acquiring an additional 400 shares during the last quarter. 91.64% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on BSX. Piper Jaffray Companies set a $50.00 target price on Boston Scientific and gave the company a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. assumed coverage on Boston Scientific in a research note on Thursday, September 5th. They issued an “overweight” rating for the company. Raymond James reduced their target price on Boston Scientific from $50.00 to $48.00 and set a “strong-buy” rating on the stock in a research note on Monday, October 14th. BTIG Research set a $46.00 target price on Boston Scientific and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $53.00 target price on shares of Boston Scientific in a report on Wednesday, October 23rd. Two investment 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 company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.07.
Shares of Boston Scientific stock traded down $0.21 during trading on Friday, reaching $40.51. The company’s stock had a trading volume of 3,199,353 shares, compared to its average volume of 7,209,796. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific Co. has a 1-year low of $31.56 and a 1-year high of $43.84. The company has a 50-day simple moving average of $40.34 and a two-hundred day simple moving average of $40.64. The company has a market cap of $56.54 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 2.27 and a beta of 0.76.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.68 billion. Boston Scientific had a return on equity of 23.47% and a net margin of 10.49%. Boston Scientific’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 1.56 earnings per share for the current year.
In other news, SVP John Bradley Sorenson sold 6,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $42.79, for a total transaction of $256,740.00. Following the sale, the senior vice president now owns 42,385 shares of the company’s stock, valued at $1,813,654.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maulik Nanavaty sold 34,035 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $42.65, for a total value of $1,451,592.75. The disclosure for this sale can be found here. Insiders sold 101,072 shares of company stock worth $4,188,092 over the last quarter. 0.66% of the stock is currently owned by insiders.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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