Commerzbank Aktiengesellschaft FI Decreases Position in Boston Scientific Co. (BSX)
Commerzbank Aktiengesellschaft FI cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,365 shares of the medical equipment provider’s stock after selling 2,377 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Boston Scientific were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the stock. Somerset Group LLC grew its holdings in shares of Boston Scientific by 3.4% during the 2nd quarter. Somerset Group LLC now owns 49,838 shares of the medical equipment provider’s stock valued at $1,630,000 after purchasing an additional 1,638 shares during the last quarter. Bainco International Investors grew its holdings in Boston Scientific by 0.8% during the 2nd quarter. Bainco International Investors now owns 208,514 shares of the medical equipment provider’s stock worth $6,818,000 after acquiring an additional 1,729 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Boston Scientific by 2.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 71,279 shares of the medical equipment provider’s stock worth $1,947,000 after acquiring an additional 1,850 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Boston Scientific by 0.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 218,066 shares of the medical equipment provider’s stock worth $7,131,000 after acquiring an additional 1,876 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD grew its holdings in Boston Scientific by 1.3% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 148,918 shares of the medical equipment provider’s stock worth $4,869,000 after acquiring an additional 1,892 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors.
A number of equities research analysts have weighed in on BSX shares. Zacks Investment Research lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, May 28th. Morgan Stanley boosted their target price on shares of Boston Scientific from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Jefferies Financial Group raised shares of Boston Scientific from a “hold” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $42.00 in a report on Tuesday, September 4th. Royal Bank of Canada boosted their target price on shares of Boston Scientific to $36.00 and gave the stock a “top pick” rating in a report on Monday, July 23rd. Finally, TheStreet raised shares of Boston Scientific from a “c” rating to an “a-” rating in a report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.18.
Shares of NYSE BSX opened at $35.85 on Friday. The company has a market capitalization of $49.58 billion, a PE ratio of 25.79, a PEG ratio of 2.49 and a beta of 0.63. Boston Scientific Co. has a 52-week low of $24.54 and a 52-week high of $37.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.60 and a current ratio of 0.83.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 25th. The medical equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.47 billion. Boston Scientific had a net margin of 5.48% and a return on equity of 26.35%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 EPS. equities research analysts expect that Boston Scientific Co. will post 1.39 EPS for the current year.
About Boston Scientific
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.
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