Moody National Bank Trust Division purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,800 shares of the medical equipment provider’s stock, valued at approximately $108,000.
Other large investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. bought a new position in shares of Boston Scientific in the third quarter worth about $3,959,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Boston Scientific in the third quarter worth about $257,000. Robecosam AG lifted its position in shares of Boston Scientific by 1.8% in the third quarter. Robecosam AG now owns 519,708 shares of the medical equipment provider’s stock worth $19,926,000 after buying an additional 9,374 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Boston Scientific by 108.7% in the third quarter. Acadian Asset Management LLC now owns 13,270 shares of the medical equipment provider’s stock worth $511,000 after buying an additional 6,911 shares in the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its position in shares of Boston Scientific by 2.2% in the third quarter. Nissay Asset Management Corp Japan ADV now owns 170,199 shares of the medical equipment provider’s stock worth $6,553,000 after buying an additional 3,679 shares in the last quarter. 91.24% of the stock is owned by institutional investors and hedge funds.
BSX has been the topic of a number of research analyst reports. Jefferies Financial Group upgraded Boston Scientific from a “hold” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $42.00 in a research report on Tuesday, September 4th. Wells Fargo & Co boosted their target price on Boston Scientific from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, September 17th. Morgan Stanley boosted their target price on Boston Scientific from $38.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 2nd. Barclays initiated coverage on Boston Scientific in a research report on Monday, October 15th. They issued an “overweight” rating and a $43.00 target price on the stock. Finally, Needham & Company LLC reiterated a “strong-buy” rating and issued a $43.00 target price (up from $39.00) on shares of Boston Scientific in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and three have given a strong buy rating to the stock. Boston Scientific presently has an average rating of “Buy” and an average price target of $39.00.
Shares of BSX stock opened at $36.85 on Wednesday. Boston Scientific Co. has a 1 year low of $24.54 and a 1 year high of $39.44. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The company has a market cap of $50.94 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 2.42 and a beta of 0.68.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Co. will post 1.39 earnings per share for the current fiscal year.
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Boston Scientific Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. 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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