Turn8 Private Wealth Inc. increased its stake in shares of Boston Scientific Corporation (NYSE:BSX – Free Report) by 25.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,026 shares of the medical equipment provider’s stock after purchasing an additional 14,421 shares during the quarter. Boston Scientific makes up approximately 2.1% of Turn8 Private Wealth Inc.’s holdings, making the stock its 23rd largest holding. Turn8 Private Wealth Inc.’s holdings in Boston Scientific were worth $3,100,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC purchased a new position in shares of Boston Scientific during the second quarter valued at approximately $883,000. Y Intercept Hong Kong Ltd boosted 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 worth $47,816,000 after acquiring an additional 670,060 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in Boston Scientific in the 2nd quarter worth approximately $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab grew its stake in Boston Scientific by 9.9% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock worth $13,659,000 after acquiring an additional 28,961 shares during the period. Finally, Tocqueville Asset Management L.P. purchased a new stake in Boston Scientific in the 2nd quarter worth approximately $38,539,000. Institutional investors and hedge funds own 89.07% of the company’s stock.
Analysts Set New Price Targets
BSX has been the subject of several analyst reports. Mizuho set a $50.00 price target on Boston Scientific in a report on Thursday, October 29th. Truist Financial decreased their price objective on Boston Scientific from $57.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Rothschild & Co Redburn lowered their price objective on Boston Scientific from $106.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Piper Sandler dropped their target price on Boston Scientific from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Finally, Needham & Company LLC dropped their target price on Boston Scientific from $57.00 to $48.00 and set a “buy” rating for the company in a research note on Wednesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and an average target price of $61.43.
View Our Latest Stock Report on Boston Scientific
Boston Scientific Price Performance
Boston Scientific stock opened at $44.67 on Wednesday. Boston Scientific Corporation has a 1 year low of $39.57 and a 1 year high of $105.65. The firm has a 50 day moving average price of $44.19 and a 200 day moving average price of $55.23. The company has a market cap of $64.74 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.30 and a beta of 0.60. 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 (NYSE:BSX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $5.09 billion. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. Boston Scientific’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. Sell-side analysts predict that Boston Scientific Corporation will post 3.17 earnings per share for the current year.
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.
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