Boston Scientific Corporation $BSX Stock: Calamos Advisors LLC Lowers Holdings

Calamos Advisors LLC trimmed its holdings in Boston Scientific Corporation (NYSE:BSX) by 17.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 557,978 shares of the medical equipment provider’s stock after selling 119,136 shares during the period. Calamos Advisors LLC’s holdings in Boston Scientific were worth $24,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Alta Advisers Ltd lifted its position in Boston Scientific by 85.6% in the 3rd quarter. Alta Advisers Ltd now owns 10,732 shares of the medical equipment provider’s stock valued at $468,000 after acquiring an additional 4,950 shares in the last quarter. Pekin Hardy Strauss Inc. boosted its stake in Boston Scientific by 59.6% during the 3rd quarter. Pekin Hardy Strauss Inc. now owns 151,492 shares of the medical equipment provider’s stock valued at $6,613,000 after purchasing an additional 56,566 shares during the last quarter. Principle Wealth Partners LLC bought a new stake in Boston Scientific during the 3rd quarter worth approximately $226,000. Kestra Advisory Services LLC increased its holdings in Boston Scientific by 47.3% during the 3rd quarter. Kestra Advisory Services LLC now owns 246,692 shares of the medical equipment provider’s stock worth $10,768,000 after purchasing an additional 79,229 shares in the last quarter. Finally, Claro Advisors Inc. purchased a new stake in shares of Boston Scientific in the third quarter worth approximately $268,000. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Boston Scientific Stock Performance

BSX stock traded down $1.82 during mid-day trading on Friday, hitting $42.82. The company had a trading volume of 14,710,150 shares, compared to its average volume of 18,989,676. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65. The stock’s fifty day moving average price is $44.32 and its two-hundred day moving average price is $55.70. The firm has a market cap of $62.05 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.74 and a current ratio of 1.24.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. Boston Scientific had a net margin of 16.62% and a return on equity of 18.73%. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. Boston Scientific’s revenue was up 1.4% on a year-over-year basis. On average, analysts forecast that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore dropped their target price on Boston Scientific from $65.00 to $52.00 and set an “outperform” rating on the stock in a report on Wednesday, October 7th. JPMorgan Chase & Co. lowered Boston Scientific from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a research report on Wednesday, October 28th. Stifel Nicolaus dropped their price objective on Boston Scientific from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, October 26th. Raymond James Financial reiterated an “outperform” rating and issued a $57.00 target price (down from $78.00) on shares of Boston Scientific in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.