Fifth Third Bancorp increased its stake in Boston Scientific Co. (NYSE:BSX) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 856,228 shares of the medical equipment provider’s stock after buying an additional 14,866 shares during the quarter. Fifth Third Bancorp owned approximately 0.06% of Boston Scientific worth $32,965,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Captrust Financial Advisors boosted its holdings in shares of Boston Scientific by 103.8% in the 2nd quarter. Captrust Financial Advisors now owns 3,129 shares of the medical equipment provider’s stock valued at $102,000 after buying an additional 1,594 shares during the last quarter. Quad Cities Investment Group LLC bought a new stake in Boston Scientific in the 2nd quarter valued at $104,000. Moody National Bank Trust Division bought a new stake in Boston Scientific in the 3rd quarter valued at $108,000. NumerixS Investment Technologies Inc raised its stake in Boston Scientific by 1,650.0% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 3,500 shares of the medical equipment provider’s stock valued at $114,000 after acquiring an additional 3,300 shares during the period. Finally, Vantage Investment Advisors LLC raised its stake in Boston Scientific by 82.4% in the 3rd quarter. Vantage Investment Advisors LLC now owns 2,989 shares of the medical equipment provider’s stock valued at $115,000 after acquiring an additional 1,350 shares during the period. 90.85% of the stock is owned by institutional investors.
A number of research firms recently weighed in on BSX. Royal Bank of Canada increased their price target on Boston Scientific to $42.00 and gave the company a “top pick” rating in a research note on Monday, October 15th. Argus increased their price target on Boston Scientific to $41.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Oppenheimer set a $38.00 price target on Boston Scientific and gave the company a “hold” rating in a research note on Wednesday, October 24th. BTIG Research restated a “buy” rating and issued a $45.00 price target on shares of Boston Scientific in a research note on Thursday, October 25th. Finally, Needham & Company LLC restated a “strong-buy” rating and issued a $43.00 price target (up previously from $39.00) on shares of Boston Scientific in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.54.
In other news, Chairman Michael F. Mahoney sold 116,666 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $35.88, for a total transaction of $4,185,976.08. Following the sale, the chairman now directly owns 2,023,104 shares of the company’s stock, valued at approximately $72,588,971.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP John Bradley Sorenson sold 10,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $35.86, for a total value of $358,600.00. Following the sale, the senior vice president now directly owns 44,636 shares in the company, valued at $1,600,646.96. The disclosure for this sale can be found here. Insiders have sold a total of 472,827 shares of company stock worth $17,554,528 in the last quarter. Company insiders own 0.73% of the company’s stock.
BSX stock opened at $35.48 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.56 and a debt-to-equity ratio of 0.58. The firm has a market cap of $50.88 billion, a price-to-earnings ratio of 28.16, a PEG ratio of 2.42 and a beta of 0.70. Boston Scientific Co. has a fifty-two week low of $24.79 and a fifty-two week high of $39.44.
Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 24th. The medical equipment provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Boston Scientific had a return on equity of 26.44% and a net margin of 6.93%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 EPS. As a group, equities analysts expect that Boston Scientific Co. will post 1.39 EPS for the current fiscal year.
ILLEGAL ACTIVITY WARNING: “Boston Scientific Co. (BSX) Stake Raised by Fifth Third Bancorp” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/12/08/boston-scientific-co-bsx-stake-raised-by-fifth-third-bancorp.html.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: Cardiovascular, Rhythm Management, and MedSurg. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
Further Reading: Understanding the different types of bonds
Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.