Brighton Jones LLC Purchases 25,252 Shares of Boston Scientific Corporation $BSX

Key Points

• Brighton Jones increased its Boston Scientific position by 45.8% in the third quarter, adding 25,252 shares and ending the period with 80,361 shares valued at about $3.51 million.
• Institutional investors and hedge funds own 89.07% of the company’s stock. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $61.43.
• Boston Scientific reported quarterly EPS of $0.73, matching estimates, while revenue of $5.14 billion topped forecasts and grew 1.4% year over year.

Brighton Jones LLC boosted its position in Boston Scientific Corporation (NYSE:BSX - Free Report) by 45.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,361 shares of the medical equipment provider's stock after acquiring an additional 25,252 shares during the quarter. Brighton Jones LLC's holdings in Boston Scientific were worth $3,508,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Boston Scientific during the second quarter worth $5,534,781,000. Primecap Management Co. CA acquired a new position in shares of Boston Scientific during the 2nd quarter worth $2,156,233,000. Jupiter Topco LLC acquired a new position in Boston Scientific during the second quarter worth about $803,357,000. Janus Henderson Group PLC raised its stake in Boston Scientific by 31.0% during the first quarter. Janus Henderson Group PLC now owns 16,497,366 shares of the medical equipment provider's stock worth $1,035,202,000 after acquiring an additional 3,907,981 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Boston Scientific by 1.2% in the second quarter. Amundi now owns 14,296,121 shares of the medical equipment provider's stock worth $610,158,000 after acquiring an additional 173,208 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird raised their price target on shares of Boston Scientific from $50.00 to $51.00 and gave the company an "outperform" rating in a research note on Thursday, October 29th. BTIG Research decreased their target price on shares of Boston Scientific from $56.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, October 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $57.00 target price (down from $78.00) on shares of Boston Scientific in a research note on Thursday, July 30th. Wells Fargo & Company lowered their price target on shares of Boston Scientific from $48.00 to $45.00 and set an "equal weight" rating for the company in a report on Thursday, October 29th. Finally, Deutsche Bank Aktiengesellschaft set a $48.00 price target on Boston Scientific and gave the company a "buy" rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Boston Scientific has a consensus rating of "Moderate Buy" and an average price target of $61.43.

Boston Scientific Trading Up 0.2%

BSX opened at $42.82 on Monday. 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 fifty-two week low of $39.57 and a fifty-two week high of $105.65. The company's 50 day moving average price is $44.32 and its two-hundred day moving average price is $55.70. The firm has a market capitalization of $62.06 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.27 and a beta of 0.60.

Boston Scientific (NYSE:BSX - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, research analysts predict that Boston Scientific Corporation will post 3.17 earnings per share for the current 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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