Quadrature Capital Ltd purchased a new position in shares of Boston Scientific Co. (NYSE:BSX - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 57,259 shares of the medical equipment provider's stock, valued at approximately $4,798,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Boston Scientific by 4.4% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after buying an additional 173,034 shares during the last quarter. Brookstone Capital Management grew its holdings in shares of Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider's stock worth $5,414,000 after buying an additional 55,645 shares during the last quarter. HWG Holdings LP purchased a new position in shares of Boston Scientific during the second quarter worth about $482,000. PGGM Investments grew its holdings in shares of Boston Scientific by 9.6% during the second quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider's stock worth $9,071,000 after buying an additional 10,366 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Boston Scientific by 0.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider's stock valued at $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on BSX shares. Wells Fargo & Company lifted their price objective on Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Barclays lifted their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an "overweight" rating in a report on Thursday, August 22nd. Bank of America lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Finally, Sanford C. Bernstein lifted their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has an average rating of "Moderate Buy" and an average price target of $93.39.
View Our Latest Report on Boston Scientific
Boston Scientific Price Performance
BSX stock traded down $0.46 on Friday, reaching $90.07. The company had a trading volume of 3,021,319 shares, compared to its average volume of 6,012,767. Boston Scientific Co. has a 1 year low of $54.52 and a 1 year high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company's fifty day moving average is $87.27 and its 200 day moving average is $81.16. The company has a market cap of $132.75 billion, a P/E ratio of 74.44, a PEG ratio of 2.66 and a beta of 0.80.
Boston Scientific (NYSE:BSX - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific's revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.
Insider Buying and Selling at Boston Scientific
In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the business's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total value of $585,594.38. Following the completion of the transaction, the executive vice president now owns 34,748 shares of the company's stock, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 328,157 shares of company stock worth $27,957,676. Insiders own 0.50% of the company's stock.
Boston Scientific Company Profile
(
Free Report)
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.
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