Dynamic Advisor Solutions LLC Takes Position in Boston Scientific Co. (NYSE:BSX)
Dynamic Advisor Solutions LLC bought a new position in shares of Boston Scientific Co. (NYSE:BSX – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 66,493 shares of the medical equipment provider’s stock, valued at approximately $3,511,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich lifted its stake in Boston Scientific by 88,436.6% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 270,919,289 shares of the medical equipment provider’s stock valued at $14,654,024,000 after purchasing an additional 270,613,292 shares during the last quarter. State Street Corp boosted its stake in shares of Boston Scientific by 1.6% during the 2nd quarter. State Street Corp now owns 63,191,897 shares of the medical equipment provider’s stock worth $3,418,050,000 after acquiring an additional 982,853 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Boston Scientific by 2.8% in the 2nd quarter. Geode Capital Management LLC now owns 26,048,114 shares of the medical equipment provider’s stock worth $1,404,613,000 after acquiring an additional 718,985 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Boston Scientific by 7.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 23,393,853 shares of the medical equipment provider’s stock worth $1,082,436,000 after purchasing an additional 1,659,431 shares during the period. Finally, Moneta Group Investment Advisors LLC lifted its holdings in shares of Boston Scientific by 112,306.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock valued at $863,475,000 after purchasing an additional 18,645,058 shares during the last quarter. 89.11% of the stock is currently owned by institutional investors.
Boston Scientific Stock Performance
BSX opened at $55.51 on Tuesday. Boston Scientific Co. has a 12-month low of $44.35 and a 12-month high of $56.90. The firm has a market capitalization of $81.31 billion, a P/E ratio of 67.69, a price-to-earnings-growth ratio of 2.23 and a beta of 0.78. The stock’s 50 day moving average price is $53.16 and its two-hundred day moving average price is $52.75. The company has a quick ratio of 0.90, a current ratio of 1.42 and a debt-to-equity ratio of 0.44.
Boston Scientific (NYSE:BSX – Get Free Report) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $3.53 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Boston Scientific had a net margin of 8.93% and a return on equity of 15.46%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 EPS. On average, equities analysts forecast that Boston Scientific Co. will post 2.01 earnings per share for the current year.
Analysts Set New Price Targets
BSX has been the topic of several recent analyst reports. Needham & Company LLC cut their price objective on Boston Scientific from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Royal Bank of Canada raised their price objective on shares of Boston Scientific from $58.00 to $61.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Truist Financial reiterated a “buy” rating and set a $61.00 price target on shares of Boston Scientific in a report on Thursday, September 21st. Canaccord Genuity Group increased their price objective on Boston Scientific from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, November 27th. Finally, BTIG Research lifted their target price on Boston Scientific from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Buy” and an average target price of $60.95.
Read Our Latest Research Report on Boston Scientific
Insider Buying and Selling
In related news, CEO Michael F. Mahoney sold 113,356 shares of the company’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $52.51, for a total value of $5,952,323.56. Following the completion of the transaction, the chief executive officer now directly owns 1,498,922 shares in the company, valued at $78,708,394.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 15,867 shares of Boston Scientific stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $55.00, for a total transaction of $872,685.00. Following the completion of the transaction, the executive vice president now directly owns 197,992 shares of the company’s stock, valued at $10,889,560. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael F. Mahoney sold 113,356 shares of the company’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $52.51, for a total transaction of $5,952,323.56. Following the completion of the sale, the chief executive officer now directly owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The disclosure for this sale can be found here. Insiders have sold a total of 254,602 shares of company stock valued at $13,330,195 over the last three months. 0.71% of the stock is owned by corporate insiders.
Boston Scientific Company Profile (Free Report)
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. 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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