Boston Scientific Corporation $BSX Stake Trimmed by M&G PLC

M&G PLC lowered its stake in shares of Boston Scientific Corporation (NYSE:BSX) by 8.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 593,287 shares of the medical equipment provider’s stock after selling 56,497 shares during the quarter. M&G PLC’s holdings in Boston Scientific were worth $26,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. AlphaCore Capital LLC increased its position in Boston Scientific by 129.8% in the third quarter. AlphaCore Capital LLC now owns 32,157 shares of the medical equipment provider’s stock worth $1,404,000 after buying an additional 18,162 shares during the last quarter. Running Oak Capital LLC raised its stake in shares of Boston Scientific by 7.5% in the third quarter. Running Oak Capital LLC now owns 208,331 shares of the medical equipment provider’s stock valued at $9,094,000 after buying an additional 14,449 shares during the period. Fulcrum Asset Management LLP raised its stake in shares of Boston Scientific by 164.8% in the third quarter. Fulcrum Asset Management LLP now owns 126,489 shares of the medical equipment provider’s stock valued at $5,550,000 after buying an additional 78,726 shares during the period. StoneRidge PMG Advisors LLC purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $638,000. Finally, Hohimer Wealth Management LLC purchased a new position in shares of Boston Scientific during the 3rd quarter valued at $4,266,000. Institutional investors own 89.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BSX. Citigroup decreased their price objective on Boston Scientific from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, October 29th. Rothschild & Co Redburn dropped their price objective on shares of Boston Scientific from $106.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Leerink Partners cut their target price on shares of Boston Scientific from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Oppenheimer downgraded shares of Boston Scientific from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 29th. Finally, Royal Bank Of Canada lowered their price target on shares of Boston Scientific from $70.00 to $52.00 and set an “outperform” rating on the stock in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.43.

Boston Scientific Price Performance

BSX stock opened at $44.00 on Tuesday. The firm has a 50 day moving average of $44.26 and a 200-day moving average of $55.46. The firm has a market capitalization of $63.78 billion, a P/E ratio of 18.64, a price-to-earnings-growth ratio of 1.36 and a beta of 0.60. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65. The company has a current ratio of 1.36, a quick ratio of 0.74 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. The business’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. As a group, sell-side analysts predict that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Boston Scientific Company 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.

Boston Scientific serves healthcare providers and patients around the world.