Redmile Group LLC trimmed its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 330,873 shares of the medical equipment provider's stock after selling 59,380 shares during the period. Boston Scientific accounts for about 1.6% of Redmile Group LLC's investment portfolio, making the stock its 27th biggest holding. Redmile Group LLC's holdings in Boston Scientific were worth $27,727,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently modified their holdings of the company. Pinpoint Asset Management Ltd grew its stake in Boston Scientific by 3.0% in the third quarter. Pinpoint Asset Management Ltd now owns 65,297 shares of the medical equipment provider's stock worth $5,472,000 after purchasing an additional 1,900 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Boston Scientific by 26.3% during the 3rd quarter. IHT Wealth Management LLC now owns 5,323 shares of the medical equipment provider's stock valued at $447,000 after buying an additional 1,108 shares in the last quarter. Investment Management Corp of Ontario grew its position in shares of Boston Scientific by 21.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 92,166 shares of the medical equipment provider's stock worth $7,724,000 after buying an additional 16,000 shares during the period. HighTower Advisors LLC increased its stake in shares of Boston Scientific by 28.2% during the third quarter. HighTower Advisors LLC now owns 109,978 shares of the medical equipment provider's stock valued at $9,241,000 after purchasing an additional 24,180 shares in the last quarter. Finally, Hilltop Holdings Inc. boosted its position in shares of Boston Scientific by 117.2% in the 3rd quarter. Hilltop Holdings Inc. now owns 14,016 shares of the medical equipment provider's stock worth $1,175,000 after purchasing an additional 7,564 shares in the last quarter. Institutional investors own 89.07% of the company's stock.
Boston Scientific Price Performance
BSX stock traded down $0.31 during trading on Thursday, hitting $90.53. 4,173,460 shares of the company's stock traded hands, compared to its average volume of 6,024,302. The business has a fifty day simple moving average of $87.27 and a 200 day simple moving average of $81.16. Boston Scientific Co. has a 52 week low of $54.31 and a 52 week 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 stock has a market capitalization of $133.43 billion, a price-to-earnings ratio of 74.82, a P/E/G ratio of 2.66 and a beta of 0.80.
Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The business had revenue of $4.21 billion during 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%. The company's revenue for the quarter was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. As a group, research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.
Analysts Set New Price Targets
Several brokerages recently weighed in on BSX. Sanford C. Bernstein raised their price target 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. Royal Bank of Canada boosted their price target on Boston Scientific from $95.00 to $98.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Truist Financial increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, October 14th. StockNews.com lowered Boston Scientific from a "buy" rating to a "hold" rating in a research report on Monday, November 4th. Finally, Canaccord Genuity Group lifted their price target on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Four investment 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, the company currently has an average rating of "Moderate Buy" and a consensus target price of $93.39.
Check Out Our Latest Stock Report on Boston Scientific
Insider Buying and Selling
In other news, CEO Michael F. Mahoney sold 162,777 shares of the business's 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 sale, the chief executive officer now directly owns 1,572,096 shares of the company's stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific 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 sale, the executive vice president now owns 160,467 shares of the company's stock, valued at $13,639,695. The trade was a 45.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,957,676 in the last ninety days. 0.50% of the stock is owned by company insiders.
Boston Scientific Company Profile
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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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![Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NYSE&Symbol=BSX)
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