StoneRidge PMG Advisors LLC Acquires New Stake in Boston Scientific Corporation $BSX

StoneRidge PMG Advisors LLC bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,615 shares of the medical equipment provider’s stock, valued at approximately $638,000.

A number of other institutional investors have also modified their holdings of the business. Avantax Planning Partners Inc. boosted its stake in Boston Scientific by 4.0% during the 1st quarter. Avantax Planning Partners Inc. now owns 5,242 shares of the medical equipment provider’s stock worth $329,000 after purchasing an additional 201 shares during the period. Natural Investments LLC increased its stake in Boston Scientific by 1.3% in the second quarter. Natural Investments LLC now owns 16,067 shares of the medical equipment provider’s stock valued at $685,000 after purchasing an additional 206 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of Boston Scientific by 3.6% in the first quarter. 180 Wealth Advisors LLC now owns 6,468 shares of the medical equipment provider’s stock valued at $406,000 after buying an additional 223 shares during the last quarter. MGO One Seven LLC raised its holdings in shares of Boston Scientific by 1.9% in the third quarter. MGO One Seven LLC now owns 14,061 shares of the medical equipment provider’s stock valued at $614,000 after buying an additional 260 shares during the last quarter. Finally, First Horizon Corp raised its holdings in shares of Boston Scientific by 3.2% in the first quarter. First Horizon Corp now owns 8,594 shares of the medical equipment provider’s stock valued at $539,000 after buying an additional 266 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Stock Up 0.2%

Shares of Boston Scientific stock opened at $42.82 on Monday. The company has a market cap of $62.06 billion, a P/E ratio of 18.14, a PEG ratio of 1.27 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.36. Boston Scientific Corporation has a one year low of $39.57 and a one year high of $105.65. The firm has a fifty day moving average of $44.32 and a two-hundred day moving average of $55.70.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $5.14 billion during 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 revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $0.75 EPS. On average, analysts forecast that Boston Scientific Corporation will post 3.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the topic of a number of research reports. Evercore lowered their price target on Boston Scientific from $65.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. Sanford C. Bernstein dropped their price target on Boston Scientific from $54.00 to $49.00 and set an “outperform” rating on the stock in a research report on Thursday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $57.00 price objective (down from $78.00) on shares of Boston Scientific in a research note on Thursday, July 30th. Leerink Partners decreased their price objective on Boston Scientific from $55.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, October 29th. Finally, Stifel Nicolaus decreased their price objective on Boston Scientific from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $61.43.

Boston Scientific 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.