Rakuten Investment Management Inc. raised its position in Boston Scientific Corporation (NYSE:BSX – Free Report) by 8.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 262,534 shares of the medical equipment provider’s stock after purchasing an additional 19,434 shares during the period. Rakuten Investment Management Inc.’s holdings in Boston Scientific were worth $11,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd bought a new stake in Boston Scientific in the 1st quarter valued at about $28,000. Cassaday & Co Wealth Management LLC acquired a new position in Boston Scientific during the 1st quarter worth approximately $32,000. Measured Wealth Private Client Group LLC raised its position in Boston Scientific by 244.9% in the first quarter. Measured Wealth Private Client Group LLC now owns 545 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 387 shares during the last quarter. Kelleher Financial Advisors acquired a new position in shares of Boston Scientific during the second quarter worth $25,000. Finally, Nvwm LLC boosted its holdings in Boston Scientific by 526.2% in the third quarter. Nvwm LLC now owns 645 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 542 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.
Boston Scientific Stock Performance
Shares of Boston Scientific stock opened at $45.73 on Thursday. Boston Scientific Corporation has a 52 week low of $39.57 and a 52 week high of $105.65. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.42. The business has a 50 day moving average price of $44.47 and a 200-day moving average price of $56.16. The company has a market cap of $66.28 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60.
Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. Boston Scientific’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equities analysts anticipate that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Rothschild & Co Redburn reduced their price objective on shares of Boston Scientific from $106.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Argus lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Leerink Partners reduced their price target on shares of Boston Scientific from $55.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, October 29th. Oppenheimer lowered shares of Boston Scientific from an “outperform” rating to a “market perform” rating in a report on Thursday, October 29th. Finally, The Goldman Sachs Group dropped their price objective on shares of Boston Scientific from $71.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $61.43.
Boston Scientific Company Profile
Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.
Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.
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