Waycross Partners LLC Acquires 37,083 Shares of Boston Scientific Corporation $BSX

Key Points

• Waycross Partners increased its Boston Scientific stake by 13.7% in the third quarter, adding 37,083 shares to hold 308,313 shares valued at about $13.46 million.
• Boston Scientific reported quarterly EPS of $0.73, matching analyst expectations, while revenue of $5.14 billion topped estimates and rose 1.4% year over year.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $61.43; shares were trading at $42.82 in Friday midday trading.

Waycross Partners LLC raised its stake in Boston Scientific Corporation (NYSE:BSX - Free Report) by 13.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 308,313 shares of the medical equipment provider's stock after acquiring an additional 37,083 shares during the period. Boston Scientific accounts for about 1.0% of Waycross Partners LLC's investment portfolio, making the stock its 29th biggest holding. Waycross Partners LLC's holdings in Boston Scientific were worth $13,458,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in BSX. BlackRock Inc. bought a new stake in Boston Scientific in the 2nd quarter valued at about $5,534,781,000. Primecap Management Co. CA acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $2,156,233,000. Jupiter Topco LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at approximately $803,357,000. Janus Henderson Group PLC raised its holdings in shares of 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 valued at $1,035,202,000 after buying an additional 3,907,981 shares during the last quarter. Finally, Amundi raised its holdings in shares of Boston Scientific by 1.2% during the second quarter. Amundi now owns 14,296,121 shares of the medical equipment provider's stock valued at $610,158,000 after buying an additional 173,208 shares during the last quarter. 89.07% of the stock is owned by institutional investors.

Boston Scientific Price Performance

Shares of NYSE BSX traded down $1.82 during midday trading on Friday, reaching $42.82. The company's stock had a trading volume of 14,710,150 shares, compared to its average volume of 18,989,676. The company has a current ratio of 1.24, a quick ratio of 0.74 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $44.32 and a 200 day moving average price of $55.70. Boston Scientific Corporation has a one year low of $39.57 and a one year high of $105.65. The company has a market cap of $62.05 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.29 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 EPS for the quarter, meeting analysts' consensus estimates of $0.73. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $5.09 billion. Boston Scientific had a return on equity of 18.73% and a net margin of 16.62%. The company's quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. On average, equities research analysts expect that Boston Scientific Corporation will post 3.17 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Rothschild & Co Redburn decreased their target price on shares of Boston Scientific from $106.00 to $78.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Argus downgraded shares of Boston Scientific from a "buy" rating to a "hold" rating in a research report on Friday, July 31st. Raymond James Financial restated an "outperform" rating and set a $57.00 price target (down from $78.00) on shares of Boston Scientific in a research report on Thursday, July 30th. Piper Sandler decreased their price objective on shares of Boston Scientific from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Wednesday, July 29th. Finally, Leerink Partners lowered their price objective on shares of Boston Scientific from $55.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Boston Scientific presently has an average rating of "Moderate Buy" and a consensus target price of $61.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.