Parkman Healthcare Partners LLC lessened its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 18.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 447,196 shares of the medical equipment provider's stock after selling 104,396 shares during the period. Boston Scientific accounts for about 4.8% of Parkman Healthcare Partners LLC's holdings, making the stock its biggest position. Parkman Healthcare Partners LLC's holdings in Boston Scientific were worth $37,475,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently added to or reduced their stakes in BSX. Marshall Wace LLP increased its position in Boston Scientific by 115.9% in the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider's stock valued at $517,544,000 after acquiring an additional 3,608,158 shares during the period. AustralianSuper Pty Ltd raised its stake in shares of Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider's stock worth $224,320,000 after buying an additional 2,615,903 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider's stock worth $608,349,000 after buying an additional 1,824,405 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Boston Scientific by 98.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,205,368 shares of the medical equipment provider's stock worth $184,810,000 after buying an additional 1,091,561 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of Boston Scientific by 68.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 2,371,407 shares of the medical equipment provider's stock worth $198,724,000 after buying an additional 965,080 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.
Boston Scientific Stock Up 0.4 %
NYSE:BSX traded up $0.37 during mid-day trading on Wednesday, hitting $90.84. The company had a trading volume of 3,483,826 shares, compared to its average volume of 6,032,112. The business has a fifty day simple moving average of $86.97 and a 200-day simple moving average of $81.03. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.93. The firm has a market capitalization of $133.88 billion, a price-to-earnings ratio of 74.77, a PEG ratio of 2.66 and a beta of 0.80.
Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the company posted $0.50 earnings per share. The firm's revenue was up 19.3% compared to the same quarter last year. Equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on BSX shares. TD Cowen increased their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, October 21st. Bank of America increased their target price on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Truist Financial increased their target price on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a report on Monday, October 14th. Stifel Nicolaus increased their target price on Boston Scientific from $85.00 to $100.00 and gave the company a "buy" rating in a report on Friday, October 18th. Finally, Wells Fargo & Company increased their target price on Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Four 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. According to MarketBeat.com, Boston Scientific presently has an average rating of "Moderate Buy" and an average price target of $93.39.
Get Our Latest Stock Analysis on Boston Scientific
Insider Buying and Selling at Boston Scientific
In other news, EVP Wendy Carruthers sold 6,983 shares of the firm's stock in a transaction dated Tuesday, October 1st. The stock was 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 directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company's stock, valued at $133,046,484.48. This represents a 9.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,157 shares of company stock valued at $27,957,676 over the last three months. 0.50% of the stock is owned by company insiders.
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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