Boston Scientific Corporation $BSX Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 8.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 502,209 shares of the medical equipment provider’s stock after selling 46,253 shares during the period. Fifth Third Bancorp’s holdings in Boston Scientific were worth $21,921,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of BSX. Perigon Wealth Management LLC purchased a new position in shares of Boston Scientific during the second quarter worth $883,000. Y Intercept Hong Kong Ltd lifted its position in Boston Scientific by 148.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock valued at $47,816,000 after purchasing an additional 670,060 shares during the period. Wealthfront Advisers LLC acquired a new position in Boston Scientific during the second quarter valued at $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in Boston Scientific by 9.9% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock valued at $13,659,000 after purchasing an additional 28,961 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in Boston Scientific in the second quarter valued at $38,539,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

NYSE:BSX opened at $44.33 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.36. The company has a fifty day moving average of $44.00 and a two-hundred day moving average of $54.50. The stock has a market capitalization of $64.25 billion, a PE ratio of 18.78, a P/E/G ratio of 1.31 and a beta of 0.60. Boston Scientific Corporation has a fifty-two week low of $39.57 and a fifty-two week high of $104.61.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share (EPS) 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 business had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. During the same period last year, the firm posted $0.75 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. As a group, research analysts forecast that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on BSX shares. JPMorgan Chase & Co. downgraded Boston Scientific from an “overweight” rating to a “neutral” rating and set a $46.00 price target on the stock. in a research report on Wednesday, October 28th. Rothschild & Co Redburn decreased their price objective on Boston Scientific from $106.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Jefferies Financial Group downgraded Boston Scientific from a “buy” rating to a “hold” rating and lowered their target price for the stock from $60.00 to $46.00 in a research note on Wednesday, October 28th. Robert W. Baird raised their target price on Boston Scientific from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, October 29th. Finally, Mizuho set a $50.00 target price on Boston Scientific in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.