Boston Scientific Corporation $BSX Position Boosted by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its Boston Scientific stake by 47.3% in the third quarter, adding 79,229 shares to reach 246,692 shares valued at about $10.8 million. Institutional investors collectively own 89.07% of the company.
• Analyst views are mixed but skew positive: MarketBeat reports a “Moderate Buy” consensus and a $61.43 average price target, while several firms recently downgraded the stock to Hold and lowered their targets.
• Boston Scientific reported quarterly earnings of $0.73 per share, matching estimates, and revenue of $5.14 billion, slightly above forecasts and up 1.4% year over year. Shares opened at $44, well below their 52-week high of $105.65.

Kestra Advisory Services LLC increased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 47.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 246,692 shares of the medical equipment provider's stock after buying an additional 79,229 shares during the period. Kestra Advisory Services LLC's holdings in Boston Scientific were worth $10,768,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in shares of Boston Scientific in the 2nd quarter valued at about $5,534,781,000. Primecap Management Co. CA acquired a new stake in Boston Scientific in the second quarter valued at approximately $2,156,233,000. Janus Henderson Group PLC grew its holdings in Boston Scientific by 31.0% in the first quarter. Janus Henderson Group PLC now owns 16,497,366 shares of the medical equipment provider's stock valued at $1,035,202,000 after purchasing an additional 3,907,981 shares during the period. Amundi grew its holdings in Boston Scientific by 13.8% in the first quarter. Amundi now owns 14,122,913 shares of the medical equipment provider's stock valued at $886,213,000 after purchasing an additional 1,707,754 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Boston Scientific by 25.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,891,668 shares of the medical equipment provider's stock valued at $871,702,000 after buying an additional 2,856,040 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on BSX shares. Barclays reduced their target price on Boston Scientific from $48.00 to $45.00 and set an "equal weight" rating for the company in a research note on Friday, October 30th. Jefferies Financial Group cut shares of Boston Scientific from a "buy" rating to a "hold" rating and dropped their price target for the company from $60.00 to $46.00 in a research note on Wednesday, October 28th. TD Cowen lowered shares of Boston Scientific from a "buy" rating to a "hold" rating and cut their price target for the stock from $56.00 to $46.00 in a report on Friday, October 30th. Argus cut shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Friday, July 31st. Finally, Deutsche Bank Aktiengesellschaft set a $48.00 price objective on shares of Boston Scientific and gave the company a "buy" rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.43.

Boston Scientific Price Performance

Boston Scientific stock opened at $44.00 on Tuesday. The company has a fifty day simple moving average of $44.26 and a 200-day simple moving average of $55.46. The firm has a market capitalization of $63.78 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 1.36 and a beta of 0.60. The company has a quick ratio of 0.74, a current ratio of 1.36 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a 52-week low of $39.57 and a 52-week high of $105.65.

Boston Scientific (NYSE:BSX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, hitting 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 revenue for the quarter was up 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. On average, equities analysts anticipate 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.

Boston Scientific serves healthcare providers and patients around the world.

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