Boston Scientific Corporation $BSX Stock Position Increased by Jefferies Financial Group Inc.

Key Points

• Jefferies Financial Group increased its Boston Scientific stake by 2,146.7% in the third quarter, adding 555,905 shares to hold 581,801 shares valued at about $25.4 million.
• Other institutions also added or initiated positions; institutional investors and hedge funds own 89.07% of the company’s shares.
• Analyst views are mixed, with several firms recently lowering ratings or price targets, though the consensus remains Moderate Buy with a $61.43 target. Boston Scientific met quarterly EPS estimates at $0.73 and reported $5.14 billion in revenue, up 1.4% year over year.

Jefferies Financial Group Inc. lifted its holdings in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) by 2,146.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 581,801 shares of the medical equipment provider's stock after buying an additional 555,905 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Boston Scientific were worth $25,396,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Perigon Wealth Management LLC purchased a new position in shares of Boston Scientific during the 2nd quarter worth $883,000. Y Intercept Hong Kong Ltd raised its holdings 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 period. Wealthfront Advisers LLC purchased a new stake in Boston Scientific in the 2nd quarter valued at about $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab lifted its position in Boston Scientific by 9.9% in the second 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. acquired a new position in Boston Scientific in the second quarter valued at about $38,539,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent analyst reports. TD Cowen cut shares of Boston Scientific from a "buy" rating to a "hold" rating and dropped their price target for the company from $56.00 to $46.00 in a research report on Friday, October 30th. Jefferies Financial Group downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating and reduced their price target for the company from $60.00 to $46.00 in a research note on Wednesday, October 28th. Leerink Partners decreased their price objective on shares of Boston Scientific from $55.00 to $50.00 and set an "outperform" rating on the stock in a report on Thursday, October 29th. Oppenheimer downgraded Boston Scientific from an "outperform" rating to a "market perform" rating in a report on Thursday, October 29th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Boston Scientific in a research note on Friday, October 2nd. One investment 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $61.43.

Boston Scientific Price Performance

BSX stock opened at $45.17 on Thursday. The business's 50-day moving average is $44.13 and its two-hundred day moving average is $54.99. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.81. The firm has a market capitalization of $65.47 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.32 and a beta of 0.60. Boston Scientific Corporation has a 1 year low of $39.57 and a 1 year high of $105.65.

Boston Scientific (NYSE:BSX - Get Free Report) last issued its earnings results 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 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 company's revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Analysts anticipate that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Boston Scientific Company 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.

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