Nan Fung Trinity HK Ltd. Purchases New Stake in Boston Scientific Corporation $BSX

Key Points

• Nan Fung Trinity HK Ltd. acquired 728,000 Boston Scientific shares in the third quarter, worth about $31.8 million. The stake represents 0.05% of the company and 3% of the investor’s portfolio.
• Analysts’ consensus rating is “Moderate Buy,” with an average price target of $61.43, despite several firms cutting their targets.
• Boston Scientific reported quarterly EPS of $0.73, matching estimates, and revenue of $5.14 billion, above consensus; revenue rose 1.4% year over year.

Nan Fung Trinity HK Ltd. acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 728,000 shares of the medical equipment provider's stock, valued at approximately $31,777,000. Boston Scientific makes up 3.0% of Nan Fung Trinity HK Ltd.'s investment portfolio, making the stock its 11th largest holding. Nan Fung Trinity HK Ltd. owned 0.05% of Boston Scientific at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Boston Scientific during the second quarter worth $5,534,781,000. Primecap Management Co. CA bought a new stake in Boston Scientific during the second quarter worth $2,156,233,000. Jupiter Topco LLC bought a new stake in Boston Scientific during the second quarter worth $803,357,000. Janus Henderson Group PLC raised its position 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 stake in Boston Scientific by 1.2% in the second quarter. Amundi now owns 14,296,121 shares of the medical equipment provider's stock valued at $610,158,000 after acquiring an additional 173,208 shares during the last quarter. Institutional investors own 89.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BSX shares. Evercore decreased their price objective on shares of Boston Scientific from $65.00 to $52.00 and set an "outperform" rating for the company in a research report on Wednesday, October 7th. Barclays lowered their price objective on shares of 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. Royal Bank Of Canada dropped their target price on shares of Boston Scientific from $70.00 to $52.00 and set an "outperform" rating on the stock in a report on Thursday, October 29th. Canaccord Genuity Group cut their target price on shares of Boston Scientific from $66.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Finally, Robert W. Baird lifted their price target on Boston Scientific from $50.00 to $51.00 and gave the stock an "outperform" rating in a report on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $61.43.

Boston Scientific Stock Down 2.0%

BSX opened at $44.22 on Friday. Boston Scientific Corporation has a 1-year low of $39.57 and a 1-year high of $105.65. The stock's fifty day simple moving average is $44.05 and its 200 day simple moving average is $54.75. The company has a current ratio of 1.36, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The stock has a market cap of $64.10 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.34 and a beta of 0.60.

Boston Scientific (NYSE:BSX - Get Free Report) last announced 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. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. During the same quarter last year, the firm posted $0.75 EPS. The company's quarterly revenue was up 1.4% on a year-over-year basis. As a group, research analysts expect that Boston Scientific Corporation will post 3.17 earnings per share for the current 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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