Veriti Management LLC increased its stake in Boston Scientific Co. (NYSE:BSX – Get Rating) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,137 shares of the medical equipment provider's stock after buying an additional 518 shares during the period. Veriti Management LLC's holdings in Boston Scientific were worth $1,049,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Boston Scientific by 1.6% in the first quarter. Vanguard Group Inc. now owns 113,364,827 shares of the medical equipment provider's stock valued at $5,020,927,000 after acquiring an additional 1,743,197 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Boston Scientific by 14.5% in the first quarter. Bank of New York Mellon Corp now owns 16,137,330 shares of the medical equipment provider's stock valued at $714,721,000 after acquiring an additional 2,043,094 shares in the last quarter. Parnassus Investments LLC raised its holdings in Boston Scientific by 1.2% in the first quarter. Parnassus Investments LLC now owns 15,734,750 shares of the medical equipment provider's stock valued at $696,892,000 after acquiring an additional 194,219 shares in the last quarter. Northern Trust Corp raised its holdings in Boston Scientific by 0.3% in the first quarter. Northern Trust Corp now owns 13,867,256 shares of the medical equipment provider's stock valued at $614,181,000 after acquiring an additional 45,404 shares in the last quarter. Finally, Norges Bank acquired a new stake in Boston Scientific in the fourth quarter valued at $563,108,000. 90.33% of the stock is owned by institutional investors and hedge funds.
Get Boston Scientific alerts:Boston Scientific Stock Performance
Shares of BSX opened at $38.36 on Tuesday. Boston Scientific Co. has a one year low of $34.98 and a one year high of $47.49. The company has a 50-day moving average of $40.82 and a two-hundred day moving average of $40.79. The stock has a market cap of $54.84 billion, a price-to-earnings ratio of 66.14, a PEG ratio of 2.11 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.86.
Boston Scientific (NYSE:BSX – Get Rating) last announced its earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, topping the consensus estimate of $0.42 by $0.02. Boston Scientific had a net margin of 7.16% and a return on equity of 14.58%. The company had revenue of $3.24 billion during the quarter, compared to analysts' expectations of $3.22 billion. During the same period last year, the company posted $0.40 earnings per share. The business's revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts expect that Boston Scientific Co. will post 1.76 earnings per share for the current year.Analysts Set New Price Targets
A number of brokerages have weighed in on BSX. Canaccord Genuity Group increased their target price on shares of Boston Scientific from $43.00 to $45.00 in a report on Thursday, July 28th. Wolfe Research began coverage on shares of Boston Scientific in a research report on Tuesday, July 5th. They issued an "outperform" rating and a $43.00 target price for the company. BTIG Research increased their target price on shares of Boston Scientific from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 28th. TheStreet upgraded shares of Boston Scientific from a "c+" rating to a "b-" rating in a research report on Wednesday, August 24th. Finally, Piper Sandler increased their target price on shares of Boston Scientific from $47.00 to $50.00 and gave the company an "overweight" rating in a research report on Friday, September 9th. Two analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $46.83.
Insiders Place Their Bets
In other Boston Scientific news, EVP Wendy Carruthers sold 7,500 shares of the firm's stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $38.00, for a total value of $285,000.00. Following the completion of the transaction, the executive vice president now directly owns 124,913 shares in the company, valued at $4,746,694. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Wendy Carruthers sold 7,500 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $38.00, for a total value of $285,000.00. Following the completion of the sale, the executive vice president now directly owns 124,913 shares of the company's stock, valued at $4,746,694. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Francis Yves Thepaut sold 20,676 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $40.99, for a total transaction of $847,509.24. Following the completion of the sale, the executive vice president now directly owns 72,486 shares of the company's stock, valued at $2,971,201.14. The disclosure for this sale can be found here. Insiders sold a total of 59,264 shares of company stock worth $2,433,248 over the last ninety days. 0.66% of the stock is currently owned by company insiders.
Boston Scientific Profile
(Get Rating)
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 devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.
Read More
- Get a free copy of the StockNews.com research report on Boston Scientific (BSX)
- MarketBeat Podcast, 3 Stocks to Watch Newmont Mining, Walmart, AMC
- MO Money: Why Altria Group Stock is Rallying
- Is the Market Overreacting with Shopify Stock?
- Fed Raises Rates: 3 Stocks to Watch Newmont Mining, Walmart, AMC
- Three Consumer Stocks That Could Outperform In Q4
Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX – Get Rating).
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.