Pacer Advisors Inc. reduced its stake in Boston Scientific Co. (NYSE:BSX - Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 113,303 shares of the medical equipment provider's stock after selling 8,450 shares during the period. Pacer Advisors Inc.'s holdings in Boston Scientific were worth $9,495,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently bought and sold shares of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider's stock worth $345,205,000 after purchasing an additional 173,034 shares in the last quarter. BDF Gestion acquired a new position in shares of Boston Scientific during the second quarter worth approximately $3,570,000. LRI Investments LLC bought a new stake in shares of Boston Scientific during the first quarter valued at approximately $139,000. Cetera Advisor Networks LLC increased its holdings in shares of Boston Scientific by 11.8% in the first quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider's stock valued at $13,796,000 after purchasing an additional 21,252 shares in the last quarter. Finally, Brookstone Capital Management raised its position in Boston Scientific by 389.1% in the 2nd quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider's stock worth $5,414,000 after purchasing an additional 55,645 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of BSX stock opened at $90.00 on Friday. The company has a market capitalization of $132.64 billion, a P/E ratio of 74.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.79. Boston Scientific Co. has a 52 week low of $53.93 and a 52 week high of $91.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company's 50 day moving average price is $85.99 and its two-hundred day moving average price is $80.16.
Boston Scientific (NYSE:BSX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.04. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a net margin of 11.26% and a return on equity of 17.23%. The firm's quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.50 earnings per share. On average, analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.
A number of brokerages have commented on BSX. Truist Financial increased their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Bank of America lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, September 4th. Finally, Mizuho increased their price objective on shares of Boston Scientific from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $93.39.
Read Our Latest Stock Analysis on Boston Scientific
In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company's stock, valued at $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Ludwig sold 4,877 shares of the firm's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares of the company's stock, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 314,147 shares of company stock worth $26,643,598 over the last three months. Corporate insiders own 0.50% of the company's stock.
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.
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