Boston Scientific Corporation $BSX Shares Purchased by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. grew its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 59.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,492 shares of the medical equipment provider’s stock after buying an additional 56,566 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Boston Scientific were worth $6,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of BSX. BlackRock Inc. bought a new stake in shares of Boston Scientific in the 2nd quarter valued at about $5,534,781,000. Primecap Management Co. CA bought a new position in Boston Scientific during the 2nd quarter worth approximately $2,156,233,000. Jupiter Topco LLC acquired a new position in Boston Scientific during the second quarter valued at approximately $803,357,000. Bank of America Corp DE bought a new stake in Boston Scientific in the second quarter valued at approximately $556,026,000. Finally, Legal & General Group Plc bought a new stake in Boston Scientific in the second quarter valued at approximately $431,890,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of recent analyst reports. Rothschild & Co Redburn reduced their price target on shares of Boston Scientific from $106.00 to $78.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Sanford C. Bernstein lowered their price objective on shares of Boston Scientific from $54.00 to $49.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Robert W. Baird upped their price objective on shares of Boston Scientific from $50.00 to $51.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Argus downgraded Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Barclays reduced their target price on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating on the stock in a report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.43.

Boston Scientific Stock Performance

Shares of BSX stock opened at $44.60 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.74 and a current ratio of 1.36. Boston Scientific Corporation has a 52 week low of $39.57 and a 52 week high of $105.65. The company’s 50 day moving average price is $44.40 and its two-hundred day moving average price is $55.94. The company has a market capitalization of $64.65 billion, a P/E ratio of 18.90, a price-to-earnings-growth ratio of 1.36 and a beta of 0.60.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, analysts expect that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

About Boston Scientific

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.