abrdn plc trimmed its position in Boston Scientific Co. (NYSE:BSX) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,444,705 shares of the medical equipment provider’s stock after selling 327,487 shares during the quarter. Boston Scientific makes up 0.9% of abrdn plc’s holdings, making the stock its 19th largest position. abrdn plc owned about 0.66% of Boston Scientific worth $403,856,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of BSX. Massachusetts Financial Services Co. MA raised its holdings in Boston Scientific by 68.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 82,659,471 shares of the medical equipment provider’s stock valued at $3,194,787,000 after acquiring an additional 33,630,705 shares during the period. Janus Henderson Group PLC raised its holdings in Boston Scientific by 6.3% in the 1st quarter. Janus Henderson Group PLC now owns 50,962,625 shares of the medical equipment provider’s stock valued at $1,969,708,000 after acquiring an additional 3,033,710 shares during the period. Primecap Management Co. CA raised its holdings in Boston Scientific by 3.9% in the 1st quarter. Primecap Management Co. CA now owns 41,012,340 shares of the medical equipment provider’s stock valued at $1,585,127,000 after acquiring an additional 1,551,355 shares during the period. Artisan Partners Limited Partnership raised its holdings in Boston Scientific by 9.0% in the 1st quarter. Artisan Partners Limited Partnership now owns 23,222,827 shares of the medical equipment provider’s stock valued at $897,562,000 after acquiring an additional 1,916,805 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Boston Scientific by 1.0% during the 1st quarter. Geode Capital Management LLC now owns 20,682,910 shares of the medical equipment provider’s stock worth $796,884,000 after purchasing an additional 201,060 shares in the last quarter. 89.80% of the stock is currently owned by institutional investors.
A number of research analysts have issued reports on the stock. Raymond James increased their target price on shares of Boston Scientific from $50.00 to $53.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 28th. TheStreet lowered shares of Boston Scientific from a “b” rating to a “c+” rating in a research report on Tuesday, July 27th. Credit Suisse Group increased their target price on shares of Boston Scientific from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 28th. Needham & Company LLC set a $42.74 target price on shares of Boston Scientific and gave the stock a “hold” rating in a research report on Thursday, July 15th. Finally, Barclays started coverage on shares of Boston Scientific in a research report on Monday, May 24th. They set an “overweight” rating and a $51.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $48.65.
NYSE:BSX traded up $0.41 on Wednesday, hitting $45.26. The company had a trading volume of 87,955 shares, compared to its average volume of 7,873,359. The stock has a market capitalization of $64.44 billion, a price-to-earnings ratio of 135.91, a PEG ratio of 2.93 and a beta of 0.88. The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $44.30 and a two-hundred day moving average of $42.32. Boston Scientific Co. has a 52 week low of $32.99 and a 52 week high of $46.28.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Monday, July 26th. The medical equipment provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The business had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $2.94 billion. Boston Scientific had a net margin of 4.56% and a return on equity of 12.67%. The firm’s revenue was up 53.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 1.61 EPS for the current year.
About Boston Scientific
Boston Scientific Corp. engages in the development, manufacture and marketing of medical devices that are used in interventional medical specialties. It operates through the following segments: Rhythm and Neuro, Cardiovascular and MedSurg. The Rhythm and Neuro segment develops implantable devices that monitor the heart and deliver electricity to treat cardiac abnormalities.
Further Reading: What sectors are represented in the Hang Seng index?
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).
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.