97,741 Shares in Boston Scientific Corporation $BSX Bought by Hohimer Wealth Management LLC

Key Points

• Hohimer Wealth Management opened a Boston Scientific position, acquiring 97,741 shares worth approximately $4.27 million in the third quarter. Institutional investors and hedge funds collectively own 89.07% of the stock.
• Analysts’ consensus rating is Moderate Buy, with a $61.43 average price target; recommendations range from Strong Buy to Sell, and some firms recently cut targets or downgraded shares.
• Boston Scientific reported quarterly EPS of $0.73, matching estimates, while revenue of $5.14 billion exceeded forecasts and grew 1.4% year over year. Shares opened at $42.82, within a 12-month range of $39.57 to $105.65.

Hohimer Wealth Management LLC acquired a new stake in Boston Scientific Corporation (NYSE:BSX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 97,741 shares of the medical equipment provider's stock, valued at approximately $4,266,000.

Other hedge funds also recently made changes to their positions in the company. Perigon Wealth Management LLC acquired a new stake in shares of Boston Scientific during the 2nd quarter worth about $883,000. Y Intercept Hong Kong Ltd grew its stake in Boston Scientific by 148.8% in the 2nd 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 buying an additional 670,060 shares during the last quarter. Wealthfront Advisers LLC acquired a new position in Boston Scientific in the 2nd quarter valued at about $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab grew 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 position in Boston Scientific in the 2nd quarter valued at about $38,539,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Rothschild & Co Redburn decreased their target price on Boston Scientific from $106.00 to $78.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft set a $48.00 target price on Boston Scientific and gave the stock a "buy" rating in a research note on Thursday, October 29th. Canaccord Genuity Group dropped their price target on Boston Scientific from $66.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, October 29th. Finally, Argus downgraded Boston Scientific from a "buy" rating to a "hold" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.43.

Boston Scientific Stock Up 0.2%

Shares of BSX opened at $42.82 on Monday. 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 stock has a market capitalization of $62.06 billion, a PE ratio of 18.14, a P/E/G ratio of 1.27 and a beta of 0.60. The firm's 50 day moving average is $44.32 and its 200-day moving average is $55.70. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, hitting analysts' consensus estimates of $0.73. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. The company's revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS. Equities research analysts forecast that Boston Scientific Corporation will post 3.17 EPS for the current year.

About Boston Scientific

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.

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