Boston Scientific Corporation $BSX Stock: Commonwealth Equity Services LLC Increases Holdings

Commonwealth Equity Services LLC grew its position in Boston Scientific Corporation (NYSE:BSX) by 11.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 189,272 shares of the medical equipment provider’s stock after acquiring an additional 19,276 shares during the period. Commonwealth Equity Services LLC’s holdings in Boston Scientific were worth $8,262,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Kelleher Financial Advisors bought a new stake in Boston Scientific during the 2nd quarter worth $25,000. Clal Insurance Enterprises Holdings Ltd bought a new position in Boston Scientific in the first quarter valued at about $28,000. Nvwm LLC raised its position in Boston Scientific by 526.2% in the third quarter. Nvwm LLC now owns 645 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 542 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Boston Scientific during the second quarter valued at about $30,000. Finally, Kings Path Partners LLC acquired a new stake in shares of Boston Scientific during the third quarter valued at about $31,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.3%

NYSE BSX opened at $44.33 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.36 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $44.00 and a 200-day moving average price of $54.50. Boston Scientific Corporation has a 52 week low of $39.57 and a 52 week high of $104.61. The company has a market cap of $64.25 billion, a price-to-earnings ratio of 18.78, a P/E/G ratio of 1.31 and a beta of 0.60.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.73. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 earnings per share. As a group, equities analysts expect that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on BSX shares. Deutsche Bank set a $48.00 price target on shares of Boston Scientific and gave the company a “buy” rating in a research report on Thursday, October 29th. Wall Street Zen downgraded Boston Scientific from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $57.00 target price (down from $78.00) on shares of Boston Scientific in a report on Thursday, July 30th. Truist Financial decreased their price target on Boston Scientific from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. Finally, BTIG Research cut their price objective on Boston Scientific from $56.00 to $49.00 and set a “buy” rating on the stock in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.43.

Boston Scientific Profile

Boston Scientific is a medical technology company that develops, manufactures and markets devices used in minimally invasive procedures across a range of medical specialties. Founded in 1979, the company is headquartered in Marlborough, Massachusetts. Its products support areas including cardiovascular care, endoscopy, urology and neuromodulation. They include catheter-based devices and therapies for conditions affecting the heart and blood vessels, as well as devices used in diagnostic and therapeutic procedures involving the digestive and urinary systems.