Boston Scientific Corporation $BSX Position Lifted by Turn8 Private Wealth Inc.

Turn8 Private Wealth Inc. raised its holdings in Boston Scientific Corporation (NYSE:BSX) by 25.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,026 shares of the medical equipment provider’s stock after acquiring an additional 14,421 shares during the quarter. Boston Scientific accounts for about 2.1% of Turn8 Private Wealth Inc.’s holdings, making the stock its 23rd biggest position. Turn8 Private Wealth Inc.’s holdings in Boston Scientific were worth $3,100,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in BSX. Knights of Columbus Asset Advisors LLC purchased a new stake in Boston Scientific during the third quarter worth about $4,634,000. AMG National Trust Bank acquired a new position in Boston Scientific during the third quarter worth about $1,497,000. Moneco Advisors LLC purchased a new position in Boston Scientific in the third quarter valued at about $222,000. Cornerstone Wealth Management LLC purchased a new position in Boston Scientific in the third quarter valued at about $223,000. Finally, Csenge Advisory Group purchased a new position in Boston Scientific in the third quarter valued at about $228,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BSX has been the topic of several research analyst reports. Needham & Company LLC decreased their price target on Boston Scientific from $57.00 to $48.00 and set a “buy” rating on the stock in a research note on Wednesday, October 28th. Jefferies Financial Group cut Boston Scientific from a “buy” rating to a “hold” rating and lowered their price target for the stock from $60.00 to $46.00 in a report on Wednesday, October 28th. Barclays reduced their price objective on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Rothschild & Co Redburn reduced their price objective on Boston Scientific from $106.00 to $78.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, The Goldman Sachs Group decreased their target price on Boston Scientific from $71.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.43.

Boston Scientific Stock Performance

Shares of BSX opened at $44.67 on Wednesday. Boston Scientific Corporation has a 12-month low of $39.57 and a 12-month high of $105.65. The stock has a market cap of $64.74 billion, a P/E ratio of 18.93, a PEG ratio of 1.30 and a beta of 0.60. The company has a current ratio of 1.36, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $44.19 and a two-hundred day moving average of $55.23.

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

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.