Commonwealth of Pennsylvania Public School Empls Retrmt SYS Takes Position in Boston Scientific Co. (BSX)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Boston Scientific Co. (NYSE:BSX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 144,441 shares of the medical equipment provider’s stock, valued at approximately $4,723,000.
A number of other hedge funds also recently made changes to their positions in the business. Barings LLC grew its holdings in Boston Scientific by 63.8% during the second quarter. Barings LLC now owns 102,425 shares of the medical equipment provider’s stock valued at $3,349,000 after purchasing an additional 39,904 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Boston Scientific by 63.7% in the second quarter. Alps Advisors Inc. now owns 11,994 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 4,666 shares during the period. Jennison Associates LLC boosted its position in shares of Boston Scientific by 1.8% in the second quarter. Jennison Associates LLC now owns 1,983,383 shares of the medical equipment provider’s stock valued at $64,857,000 after acquiring an additional 35,833 shares during the period. Perkins Capital Management Inc. bought a new stake in shares of Boston Scientific in the second quarter valued at approximately $1,141,000. Finally, First Trust Advisors LP boosted its position in shares of Boston Scientific by 1,304.9% in the second quarter. First Trust Advisors LP now owns 267,753 shares of the medical equipment provider’s stock valued at $8,756,000 after acquiring an additional 248,695 shares during the period. Institutional investors own 89.39% of the company’s stock.
Several research firms have recently weighed in on BSX. Needham & Company LLC reissued a “strong-buy” rating on shares of Boston Scientific in a research report on Friday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $37.00 price objective on shares of Boston Scientific in a research report on Thursday, July 26th. Piper Jaffray Companies increased their price objective on Boston Scientific to $38.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Guggenheim reissued a “buy” rating and issued a $43.00 price objective on shares of Boston Scientific in a research report on Friday, July 27th. Finally, Sanford C. Bernstein began coverage on Boston Scientific in a research report on Wednesday, June 27th. They issued an “outperform” rating and a $38.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Boston Scientific has a consensus rating of “Buy” and a consensus target price of $34.95.
Shares of Boston Scientific opened at $33.85 on Friday, Marketbeat reports. The firm has a market capitalization of $45.94 billion, a P/E ratio of 23.90, a PEG ratio of 2.44 and a beta of 0.65. Boston Scientific Co. has a one year low of $24.54 and a one year high of $37.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.83 and a quick ratio of 0.60.
Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 EPS for the quarter, topping the consensus estimate of $0.34 by $0.07. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Boston Scientific had a return on equity of 26.35% and a net margin of 5.48%. Boston Scientific’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the business earned $0.32 earnings per share. sell-side analysts predict that Boston Scientific Co. will post 1.38 earnings per share for the current fiscal year.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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