Boston Scientific Corp. (BSX) Stake Boosted by Prudential Financial Inc.
Prudential Financial Inc. increased its position in Boston Scientific Corp. (NYSE:BSX) by 123.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 4,380,019 shares of the company’s stock after buying an additional 2,417,148 shares during the period. Prudential Financial Inc. owned 0.32% of Boston Scientific Corp. worth $104,245,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of BSX. Trust Co. of Vermont boosted its position in shares of Boston Scientific Corp. by 2,298.3% in the third quarter. Trust Co. of Vermont now owns 4,221 shares of the company’s stock worth $100,000 after buying an additional 4,045 shares during the last quarter. Synovus Financial Corp bought a new position in shares of Boston Scientific Corp. during the third quarter worth approximately $102,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Boston Scientific Corp. by 1.5% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 4,511 shares of the company’s stock worth $107,000 after buying an additional 66 shares during the last quarter. Global X Management Co. LLC boosted its position in shares of Boston Scientific Corp. by 91.8% in the second quarter. Global X Management Co. LLC now owns 4,683 shares of the company’s stock worth $109,000 after buying an additional 2,242 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Boston Scientific Corp. by 1.7% in the second quarter. Quadrant Capital Group LLC now owns 4,844 shares of the company’s stock worth $105,000 after buying an additional 83 shares during the last quarter. Institutional investors own 89.96% of the company’s stock.
Shares of Boston Scientific Corp. (NYSE:BSX) opened at 20.75 on Tuesday. Boston Scientific Corp. has a one year low of $15.67 and a one year high of $24.79. The company has a market cap of $28.25 billion, a P/E ratio of 391.51 and a beta of 1.15. The company’s 50-day moving average price is $22.04 and its 200 day moving average price is $23.09.
Boston Scientific Corp. (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 26th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. Boston Scientific Corp. had a return on equity of 23.25% and a net margin of 0.99%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.24 EPS. Boston Scientific Corp.’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Boston Scientific Corp. will post $1.10 earnings per share for the current year.
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A number of research analysts recently commented on the company. TheStreet upgraded Boston Scientific Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, October 26th. Zacks Investment Research cut Boston Scientific Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Citigroup Inc. lifted their target price on Boston Scientific Corp. from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, October 6th. Argus upgraded Boston Scientific Corp. from a “hold” rating to a “buy” rating and lifted their target price for the company from $23.82 to $33.00 in a research report on Thursday, September 1st. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $28.00 target price on shares of Boston Scientific Corp. in a research report on Friday, October 14th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $25.70.
Boston Scientific Corp. Company Profile
Boston Scientific Corporation is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties. The Company offers its products by seven core businesses: Interventional Cardiology, Peripheral Interventions (PI), Cardiac Rhythm Management (CRM), Electrophysiology (EP), Endoscopy, Urology and Pelvic Health, and Neuromodulation.
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