Fulton Breakefield Broenniman LLC increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 19.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,795 shares of the medical equipment provider’s stock after buying an additional 1,745 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Boston Scientific were worth $488,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in BSX. NuWave Investment Management LLC increased its stake in shares of Boston Scientific by 111.4% during the third quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 380 shares during the period. Optimum Investment Advisors increased its stake in shares of Boston Scientific by 100.0% during the third quarter. Optimum Investment Advisors now owns 800 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 400 shares during the period. Compagnie Lombard Odier SCmA purchased a new stake in shares of Boston Scientific during the second quarter worth approximately $34,000. Executive Wealth Management LLC increased its stake in shares of Boston Scientific by 58.8% during the third quarter. Executive Wealth Management LLC now owns 1,151 shares of the medical equipment provider’s stock worth $46,000 after buying an additional 426 shares during the period. Finally, Evoke Wealth LLC purchased a new stake in shares of Boston Scientific during the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 91.05% of the company’s stock.
A number of analysts recently weighed in on BSX shares. Needham & Company LLC lowered shares of Boston Scientific from a “strong-buy” rating to a “buy” rating and set a $53.00 target price on the stock. in a research note on Thursday, December 19th. JPMorgan Chase & Co. upped their target price on shares of Boston Scientific from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Morgan Stanley upped their target price on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Piper Sandler restated a “buy” rating on shares of Boston Scientific in a research note on Tuesday. Finally, ValuEngine lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $48.62.
Shares of Boston Scientific stock opened at $42.66 on Wednesday. The firm has a market capitalization of $63.66 billion, a P/E ratio of 29.02, a P/E/G ratio of 2.23 and a beta of 0.78. Boston Scientific Co. has a 52 week low of $34.35 and a 52 week high of $46.62. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.99. The firm’s 50 day moving average is $44.60 and its two-hundred day moving average is $42.40.
Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.68 billion. Boston Scientific had a net margin of 10.49% and a return on equity of 23.10%. The firm’s revenue was up 13.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, research analysts expect that Boston Scientific Co. will post 1.57 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: MedSurg, Rhythm and Neuro, and Cardiovascular. 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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