Investors Buy Boston Scientific (BSX) on Weakness

Investors purchased shares of Boston Scientific Co. (NYSE:BSX) on weakness during trading hours on Friday. $80.39 million flowed into the stock on the tick-up and $32.61 million flowed out of the stock on the tick-down, for a money net flow of $47.78 million into the stock. Of all companies tracked, Boston Scientific had the 25th highest net in-flow for the day. Boston Scientific traded down ($0.99) for the day and closed at $36.54

A number of analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Boston Scientific from $38.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, October 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Boston Scientific in a report on Tuesday, September 25th. Wells Fargo & Co lifted their target price on shares of Boston Scientific from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Royal Bank of Canada lifted their target price on shares of Boston Scientific to $42.00 and gave the stock a “top pick” rating in a report on Monday. Finally, Barclays assumed coverage on shares of Boston Scientific in a report on Monday. They set an “overweight” rating and a $43.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have given a buy rating and three have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $38.22.

The firm has a market cap of $52.55 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.64 and a beta of 0.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.60 and a current ratio of 0.83.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.07. Boston Scientific had a net margin of 5.48% and a return on equity of 26.35%. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the business earned $0.32 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Boston Scientific Co. will post 1.39 earnings per share for the current year.

In other news, SVP John Bradley Sorenson sold 10,000 shares of the business’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $35.86, for a total value of $358,600.00. Following the completion of the transaction, the senior vice president now owns 44,636 shares of the company’s stock, valued at approximately $1,600,646.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David A. Pierce sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $33.66, for a total transaction of $168,300.00. Following the completion of the transaction, the executive vice president now directly owns 29,201 shares of the company’s stock, valued at approximately $982,905.66. The disclosure for this sale can be found here. Insiders sold a total of 295,834 shares of company stock valued at $11,038,468 in the last three months. 0.73% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in BSX. Captrust Financial Advisors grew its holdings in shares of Boston Scientific by 103.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 1,594 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of Boston Scientific in the 2nd quarter valued at $104,000. Kaizen Advisory LLC grew its holdings in shares of Boston Scientific by 146.7% in the 2nd quarter. Kaizen Advisory LLC now owns 3,299 shares of the medical equipment provider’s stock valued at $108,000 after buying an additional 1,962 shares during the period. NumerixS Investment Technologies Inc grew its holdings in shares of Boston Scientific by 1,650.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock valued at $114,000 after buying an additional 3,300 shares during the period. Finally, Sun Life Financial INC grew its holdings in shares of Boston Scientific by 2,086.5% in the 2nd quarter. Sun Life Financial INC now owns 3,739 shares of the medical equipment provider’s stock valued at $122,000 after buying an additional 3,568 shares during the period. 91.03% of the stock is owned by institutional investors.

Boston Scientific Company Profile (NYSE:BSX)

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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