Meyer Handelman Co. raised its position in shares of Boston Scientific Co. (NYSE:BSX) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,400 shares of the medical equipment provider’s stock after buying an additional 1,600 shares during the quarter. Meyer Handelman Co.’s holdings in Boston Scientific were worth $1,375,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Boston Scientific by 28.4% in the second quarter. Price T Rowe Associates Inc. MD now owns 13,748,652 shares of the medical equipment provider’s stock worth $590,917,000 after purchasing an additional 3,039,311 shares in the last quarter. First Trust Advisors LP raised its position in Boston Scientific by 431.4% during the third quarter. First Trust Advisors LP now owns 1,806,774 shares of the medical equipment provider’s stock valued at $73,518,000 after acquiring an additional 1,466,762 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Boston Scientific by 1,787.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,457,261 shares of the medical equipment provider’s stock valued at $65,897,000 after acquiring an additional 1,380,055 shares in the last quarter. Orbimed Advisors LLC raised its position in Boston Scientific by 16.6% during the second quarter. Orbimed Advisors LLC now owns 6,752,500 shares of the medical equipment provider’s stock valued at $290,222,000 after acquiring an additional 962,100 shares in the last quarter. Finally, California Public Employees Retirement System raised its position in Boston Scientific by 31.9% during the third quarter. California Public Employees Retirement System now owns 3,114,781 shares of the medical equipment provider’s stock valued at $126,740,000 after acquiring an additional 753,657 shares in the last quarter. 91.11% of the stock is owned by institutional investors.
Several brokerages recently weighed in on BSX. Guggenheim set a $53.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. raised their price objective on shares of Boston Scientific from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Piper Sandler reaffirmed a “buy” rating on shares of Boston Scientific in a research report on Tuesday, January 14th. Raymond James cut their price objective on shares of Boston Scientific from $50.00 to $48.00 and set a “strong-buy” rating on the stock in a research report on Monday, October 14th. Finally, Cowen reiterated a “buy” rating and set a $52.00 price target on shares of Boston Scientific in a report on Wednesday, January 15th. One equities research analyst has rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $48.62.
In related news, insider Williamson Scott acquired 250,000 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $0.12 per share, with a total value of $30,000.00. Also, SVP Arthur C. Butcher sold 1,104 shares of Boston Scientific stock in a transaction on Friday, November 8th. The shares were sold at an average price of $40.75, for a total value of $44,988.00. The disclosure for this sale can be found here. Insiders have sold 218,828 shares of company stock worth $9,695,889 in the last quarter. Corporate insiders own 0.66% of the company’s stock.
Shares of Boston Scientific stock traded down $0.76 during midday trading on Thursday, hitting $43.27. The company had a trading volume of 142,802 shares, compared to its average volume of 6,573,866. The business’s 50 day simple moving average is $44.73 and its two-hundred day simple moving average is $42.45. The stock has a market cap of $61.43 billion, a PE ratio of 56.21, a P/E/G ratio of 2.15 and a beta of 0.78. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.14 and a quick ratio of 0.77. Boston Scientific Co. has a 1-year low of $34.35 and a 1-year high of $46.62.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.01. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.68 billion. Boston Scientific had a net margin of 10.49% and a return on equity of 23.10%. Boston Scientific’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter last year, the company posted $0.35 earnings per share. On average, sell-side analysts expect that Boston Scientific Co. will post 1.57 EPS for the current fiscal year.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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