Boston Scientific Corporation $BSX Shares Sold by Lockheed Martin Investment Management Co.

Key Points

• Lockheed Martin Investment Management cut its Boston Scientific stake by 31.4% in the third quarter, selling 24,320 shares and retaining 53,160 shares valued at about $2.32 million. Other institutional investors made mixed moves, and institutions collectively own 89.07% of the stock.
• Analyst opinions remain broadly positive: Boston Scientific has a consensus “Moderate Buy” rating and a $61.43 price target, though several firms recently lowered their targets or downgraded the stock.
• In its latest quarter, Boston Scientific reported earnings of $0.73 per share, matching estimates, and revenue of $5.14 billion, slightly above forecasts and up 1.4% year over year.

Lockheed Martin Investment Management Co. decreased its position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 31.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,160 shares of the medical equipment provider's stock after selling 24,320 shares during the period. Lockheed Martin Investment Management Co.'s holdings in Boston Scientific were worth $2,320,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC increased its stake in Boston Scientific by 129.8% in the 3rd quarter. AlphaCore Capital LLC now owns 32,157 shares of the medical equipment provider's stock worth $1,404,000 after buying an additional 18,162 shares in the last quarter. Running Oak Capital LLC lifted its position in shares of Boston Scientific by 7.5% in the third quarter. Running Oak Capital LLC now owns 208,331 shares of the medical equipment provider's stock valued at $9,094,000 after acquiring an additional 14,449 shares in the last quarter. Fulcrum Asset Management LLP lifted its position in shares of Boston Scientific by 164.8% in the third quarter. Fulcrum Asset Management LLP now owns 126,489 shares of the medical equipment provider's stock valued at $5,550,000 after acquiring an additional 78,726 shares in the last quarter. StoneRidge PMG Advisors LLC bought a new position in shares of Boston Scientific in the third quarter worth about $638,000. Finally, Hohimer Wealth Management LLC bought a new position in shares of Boston Scientific in the third quarter worth about $4,266,000. Hedge funds and other institutional investors own 89.07% of the company's stock.

Analyst Ratings Changes

BSX has been the subject of several research analyst reports. Raymond James Financial reiterated an "outperform" rating and set a $57.00 target price (down from $78.00) on shares of Boston Scientific in a research report on Thursday, July 30th. JPMorgan Chase & Co. cut Boston Scientific from an "overweight" rating to a "neutral" rating and set a $46.00 price target on the stock. in a report on Wednesday, October 28th. Sanford C. Bernstein dropped their price target on Boston Scientific from $54.00 to $49.00 and set an "outperform" rating for the company in a research note on Thursday, October 29th. Wall Street Zen lowered shares of Boston Scientific from a "buy" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, TD Cowen lowered shares of Boston Scientific from a "buy" rating to a "hold" rating and cut their price objective for the company from $56.00 to $46.00 in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Boston Scientific has an average rating of "Moderate Buy" and a consensus price target of $61.43.

Boston Scientific Trading Up 2.9%

Shares of BSX opened at $44.00 on Tuesday. The company's fifty day moving average is $44.26 and its 200 day moving average is $55.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.74 and a current ratio of 1.36. The stock has a market capitalization of $63.78 billion, a PE ratio of 18.64, a P/E/G ratio of 1.36 and a beta of 0.60. Boston Scientific Corporation has a fifty-two week low of $39.57 and a fifty-two week high of $105.65.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 EPS for the quarter, meeting analysts' consensus estimates of $0.73. The firm had revenue of $5.14 billion during 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 firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 EPS. Sell-side analysts expect that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal 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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