Boston Scientific Corporation $BSX Stock: Candriam S.C.A. Increases Holdings

Key Points

• Candriam S.C.A. increased its Boston Scientific stake by 17.1% in the third quarter, adding 62,799 shares and ending the period with 430,284 shares worth about $18.85 million. Institutional investors collectively owned 89.07% of the company’s stock.
• Boston Scientific reported quarterly EPS of $0.73, in line with estimates, and revenue of $5.14 billion, above expectations; revenue grew 1.4% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $61.43. Shares opened at $42.82, below their 50-day and 200-day moving averages.

Candriam S.C.A. raised its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 430,284 shares of the medical equipment provider's stock after buying an additional 62,799 shares during the quarter. Candriam S.C.A.'s holdings in Boston Scientific were worth $18,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Boston Scientific during the second quarter worth $5,534,781,000. Primecap Management Co. CA bought a new stake in Boston Scientific in the 2nd quarter valued at $2,156,233,000. Jupiter Topco LLC bought a new stake in Boston Scientific in the 2nd quarter valued at $803,357,000. Bank of America Corp DE bought a new stake in Boston Scientific in the 2nd quarter valued at $556,026,000. Finally, Legal & General Group Plc acquired a new position in Boston Scientific in the 2nd quarter worth $431,890,000. Institutional investors and hedge funds own 89.07% of the company's stock.

Boston Scientific Trading Up 0.2%

Shares of NYSE:BSX opened at $42.82 on Monday. The company's 50-day moving average price is $44.32 and its two-hundred day moving average price is $55.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.81. Boston Scientific Corporation has a one year low of $39.57 and a one year high of $105.65. The stock has a market capitalization of $62.06 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 1.27 and a beta of 0.60.

Boston Scientific (NYSE:BSX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, meeting the consensus estimate of $0.73. The company had revenue of $5.14 billion during the quarter, compared to analysts' expectations of $5.09 billion. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. Boston Scientific's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.75 EPS. On average, equities analysts forecast that Boston Scientific Corporation will post 3.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BSX. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Boston Scientific in a research note on Friday, October 2nd. Rothschild & Co Redburn dropped their price target on Boston Scientific from $106.00 to $78.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Barclays dropped their price target on Boston Scientific from $48.00 to $45.00 and set an "equal weight" rating on the stock in a research note on Friday, October 30th. Wells Fargo & Company cut their price target on Boston Scientific from $48.00 to $45.00 and set an "equal weight" rating on the stock in a report on Thursday, October 29th. Finally, Leerink Partners reduced their price objective on Boston Scientific from $55.00 to $50.00 and set an "outperform" rating for the company in a research report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty have given 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $61.43.

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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