Boston Scientific Co. (NYSE:BSX) Shares Purchased by Westpac Banking Corp
Westpac Banking Corp increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 114.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 217,697 shares of the medical equipment provider’s stock after acquiring an additional 116,417 shares during the quarter. Westpac Banking Corp’s holdings in Boston Scientific were worth $9,357,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Investors Research Corp increased its stake in Boston Scientific by 333.3% in the second quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 500 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Boston Scientific by 60.0% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 800 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 300 shares during the period. Essex Savings Bank acquired a new position in Boston Scientific in the first quarter valued at $31,000. Westside Investment Management Inc. acquired a new position in Boston Scientific in the second quarter valued at $31,000. Finally, NEXT Financial Group Inc increased its stake in Boston Scientific by 222.3% in the second quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 538 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.
A number of research analysts have commented on the stock. Wells Fargo & Co lifted their price objective on shares of Boston Scientific from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Tuesday, June 18th. Leerink Swann set a $50.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 31st. Raymond James lifted their price objective on shares of Boston Scientific from $48.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 25th. Needham & Company LLC set a $46.00 price objective on shares of Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group lifted their price objective on shares of Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, June 27th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $44.91.
Shares of NYSE:BSX traded up $0.25 during midday trading on Thursday, hitting $41.68. The stock had a trading volume of 32,074 shares, compared to its average volume of 5,758,131. The stock has a market cap of $57.65 billion, a P/E ratio of 28.44, a PEG ratio of 2.54 and a beta of 0.80. The company’s 50 day moving average price is $42.52. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. Boston Scientific Co. has a 1 year low of $31.56 and a 1 year high of $43.66.
Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.64 billion. Boston Scientific had a net margin of 13.85% and a return on equity of 23.29%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.41 earnings per share. Equities analysts forecast that Boston Scientific Co. will post 1.56 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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