Empirical Finance LLC increased its stake in shares of Boston Scientific Co. (NYSE:BSX – Get Rating) by 19.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,460 shares of the medical equipment provider’s stock after purchasing an additional 5,706 shares during the quarter. Empirical Finance LLC’s holdings in Boston Scientific were worth $1,335,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. CoreCap Advisors LLC purchased a new position in Boston Scientific in the second quarter worth $27,000. Crewe Advisors LLC purchased a new position in Boston Scientific in the second quarter worth $27,000. Acadian Asset Management LLC purchased a new position in Boston Scientific in the first quarter worth $35,000. TCI Wealth Advisors Inc. raised its position in Boston Scientific by 98.8% in the second quarter. TCI Wealth Advisors Inc. now owns 857 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 426 shares in the last quarter. Finally, Charter Oak Capital Management LLC purchased a new position in Boston Scientific in the second quarter worth $34,000. 90.23% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have issued reports on BSX. Jefferies Financial Group began coverage on Boston Scientific in a research report on Wednesday, October 12th. They issued a “buy” rating and a $50.00 price objective for the company. Canaccord Genuity Group raised their price target on Boston Scientific from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Friday, October 28th. Barclays raised their price target on Boston Scientific from $49.00 to $53.00 in a research report on Wednesday, January 4th. Citigroup began coverage on Boston Scientific in a research report on Tuesday, December 20th. They issued a “buy” rating and a $54.00 price target for the company. Finally, Mizuho began coverage on Boston Scientific in a research report on Thursday, December 22nd. They issued a “neutral” rating and a $52.00 price target for the company. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.00.
Insiders Place Their Bets
Boston Scientific Trading Down 0.0 %
Boston Scientific stock opened at $45.84 on Wednesday. The stock has a 50-day moving average price of $45.56 and a 200 day moving average price of $42.39. The company has a current ratio of 1.45, a quick ratio of 0.95 and a debt-to-equity ratio of 0.49. Boston Scientific Co. has a 52 week low of $34.98 and a 52 week high of $47.95. The stock has a market cap of $65.66 billion, a PE ratio of 109.15, a P/E/G ratio of 2.32 and a beta of 0.83.
Boston Scientific (NYSE:BSX – Get Rating) last issued its quarterly earnings results on Wednesday, October 26th. The medical equipment provider reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Boston Scientific had a return on equity of 14.55% and a net margin of 5.19%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts predict that Boston Scientific Co. will post 1.73 earnings per share for the current fiscal year.
Boston Scientific Profile
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.
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