19,434 Boston Scientific Corporation $BSX Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in shares of Boston Scientific Corporation (NYSE:BSX) by 8.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 262,534 shares of the medical equipment provider’s stock after purchasing an additional 19,434 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Boston Scientific were worth $11,520,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new position in shares of Boston Scientific during the second quarter worth about $883,000. Y Intercept Hong Kong Ltd grew its position in Boston Scientific by 148.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock valued at $47,816,000 after purchasing an additional 670,060 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Boston Scientific in the second quarter valued at $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab increased its stake in Boston Scientific by 9.9% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock valued at $13,659,000 after buying an additional 28,961 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in Boston Scientific during the 2nd quarter worth about $38,539,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSX has been the subject of a number of recent research reports. UBS Group reduced their price objective on shares of Boston Scientific from $67.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 29th. Rothschild & Co Redburn dropped their target price on Boston Scientific from $106.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and set a $57.00 price target (down from $78.00) on shares of Boston Scientific in a research report on Thursday, July 30th. JPMorgan Chase & Co. downgraded Boston Scientific from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Wednesday, October 28th. Finally, Wells Fargo & Company dropped their price objective on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.43.

Boston Scientific Trading Up 5.1%

Shares of Boston Scientific stock opened at $45.73 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.74. The business has a fifty day simple moving average of $44.47 and a two-hundred day simple moving average of $56.16. Boston Scientific Corporation has a 1 year low of $39.57 and a 1 year high of $105.65. The company has a market capitalization of $66.28 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.27 and a beta of 0.60.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, meeting the consensus estimate of $0.73. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. Research analysts forecast that Boston Scientific Corporation will post 3.17 EPS for the current year.

About Boston Scientific

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.