Boston Scientific Corporation $BSX Stock: Compass Capital Management Inc. Increases Holdings

Compass Capital Management Inc. grew its position in Boston Scientific Corporation (NYSE:BSX) by 16.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,004,548 shares of the medical equipment provider’s stock after acquiring an additional 145,018 shares during the period. Boston Scientific accounts for approximately 2.8% of Compass Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Compass Capital Management Inc.’s holdings in Boston Scientific were worth $43,849,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. acquired a new position in Boston Scientific in the 2nd quarter worth about $5,534,781,000. Primecap Management Co. CA bought a new position in Boston Scientific in the second quarter valued at about $2,156,233,000. Jupiter Topco LLC bought a new position in Boston Scientific in the second quarter valued at about $803,357,000. Janus Henderson Group PLC boosted its stake in shares of Boston Scientific by 31.0% during the first 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 purchasing an additional 3,907,981 shares in the last quarter. Finally, Amundi boosted its stake in shares of Boston Scientific by 1.2% during the second quarter. Amundi now owns 14,296,121 shares of the medical equipment provider’s stock valued at $610,158,000 after purchasing an additional 173,208 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Up 0.3%

Boston Scientific stock 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. Boston Scientific Corporation has a 52-week low of $39.57 and a 52-week high of $104.61. The firm has a 50 day moving average price of $44.00 and a two-hundred day moving average price of $54.50. The firm has a market cap of $64.25 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.31 and a beta of 0.60.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.09 billion. During the same period in the prior year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Equities analysts predict that Boston Scientific Corporation will post 3.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BSX shares. Stifel Nicolaus lowered their price objective on Boston Scientific from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Canaccord Genuity Group cut their target price on shares of Boston Scientific from $66.00 to $48.00 and set a “buy” rating on the stock in a research report on Thursday, October 29th. Truist Financial reduced their target price on shares of Boston Scientific from $57.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Jefferies Financial Group cut shares of Boston Scientific from a “buy” rating to a “hold” rating and decreased their price target for the company from $60.00 to $46.00 in a research report on Wednesday, October 28th. Finally, Wells Fargo & Company decreased their price target on shares of Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating for the company in a research report 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 issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price 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.