Boston Scientific Corporation $BSX Stock: Kestra Advisory Services LLC Increases Position

Kestra Advisory Services LLC boosted its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 47.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 246,692 shares of the medical equipment provider’s stock after purchasing an additional 79,229 shares during the quarter. Kestra Advisory Services LLC’s holdings in Boston Scientific were worth $10,768,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Boston Scientific in the 2nd quarter worth $5,534,781,000. Primecap Management Co. CA acquired a new position in shares of Boston Scientific during the 2nd quarter valued at about $2,156,233,000. Janus Henderson Group PLC boosted its position in shares of Boston Scientific by 31.0% during the 1st quarter. Janus Henderson Group PLC now owns 16,497,366 shares of the medical equipment provider’s stock valued at $1,035,202,000 after acquiring an additional 3,907,981 shares during the last quarter. Amundi boosted its position in shares of Boston Scientific by 13.8% during the 1st quarter. Amundi now owns 14,122,913 shares of the medical equipment provider’s stock valued at $886,213,000 after acquiring an additional 1,707,754 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Boston Scientific by 25.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,891,668 shares of the medical equipment provider’s stock valued at $871,702,000 after purchasing an additional 2,856,040 shares during the period. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 2.9%

Shares of BSX opened at $44.00 on Tuesday. The company’s 50-day moving average price is $44.26 and its 200 day moving average price is $55.46. Boston Scientific Corporation has a 12-month low of $39.57 and a 12-month high of $105.65. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.42. The firm has a market cap of $63.78 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.36 and a beta of 0.60.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, hitting 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 analyst estimates of $5.09 billion. During the same quarter last year, the firm posted $0.75 earnings per share. Boston Scientific’s revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts forecast that Boston Scientific Corporation will post 3.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Boston Scientific from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Jefferies Financial Group lowered shares of Boston Scientific from a “buy” rating to a “hold” rating and decreased their target price for the company from $60.00 to $46.00 in a report on Wednesday, October 28th. Truist Financial dropped their price target on shares of Boston Scientific from $57.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday, October 14th. UBS Group reduced their price target on shares of Boston Scientific from $67.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Finally, Royal Bank Of Canada decreased their price objective on Boston Scientific from $70.00 to $52.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.43.

About Boston Scientific

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.

Boston Scientific serves healthcare providers and patients around the world.