Mirae Asset Global Investments Co. Ltd. Buys 400,074 Shares of Boston Scientific Corporation $BSX

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 400,074 shares of the medical equipment provider’s stock, valued at approximately $17,463,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BSX. BlackRock Inc. bought a new position in shares of Boston Scientific during the 2nd quarter valued at about $5,534,781,000. Primecap Management Co. CA purchased a new position in shares of Boston Scientific during the second quarter valued at about $2,156,233,000. Janus Henderson Group PLC increased its holdings in shares of Boston Scientific by 31.0% in 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 purchasing an additional 3,907,981 shares during the last quarter. Amundi increased its holdings in shares of Boston Scientific by 13.8% in the first quarter. Amundi now owns 14,122,913 shares of the medical equipment provider’s stock worth $886,213,000 after purchasing an additional 1,707,754 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Boston Scientific by 25.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 13,891,668 shares of the medical equipment provider’s stock worth $871,702,000 after buying an additional 2,856,040 shares in the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific News Summary

Here are the key news stories impacting Boston Scientific this week:

• Positive Sentiment: Boston Scientific reported that the SIMPLAAFY trial of its WATCHMAN FLX Pro heart device met its six-month primary endpoints. The results found two post-implant drug regimens non-inferior to dual-antiplatelet therapy, potentially supporting simpler treatment after the procedure. Article: SIMPLAAFY study results
• Neutral Sentiment: Boston Scientific and Blackstone Life Sciences announced a $455 million collaboration to co-develop the VITALYST heart-pump technology. The arrangement may ease near-term development costs, but an analyst noted it could defer growth and leave longer-term uncertainty. Article: VITALYST collaboration Article: Analyst assessment of VITALYST deal
• Negative Sentiment: A Zacks analysis flagged weakening earnings estimates, softer momentum in core businesses and major growth catalysts that may not arrive until 2028. Those concerns could overshadow the company’s valuation discount. Article: Valuation and earnings-growth analysis
• Negative Sentiment: J.P. Morgan maintained a Hold rating, while TD Cowen also cut its rating to Hold; Barclays lowered its price target. The cautious analyst stance adds to concerns about near-term growth. Article: J.P. Morgan rating Article: TD Cowen rating Article: Barclays price-target change

Analyst Upgrades and Downgrades

BSX has been the subject of a number of research reports. TD Cowen lowered Boston Scientific from a “buy” rating to a “hold” rating and dropped their price target for the company from $56.00 to $46.00 in a research note on Friday, October 30th. Royal Bank Of Canada reduced their price objective on Boston Scientific from $70.00 to $52.00 and set an “outperform” rating on the stock in a research note on Thursday, October 29th. Truist Financial decreased their price objective on Boston Scientific from $57.00 to $51.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Stifel Nicolaus lowered their target price on Boston Scientific from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Monday, October 26th. Finally, Wall Street Zen lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.43.

Boston Scientific Stock Down 1.7%

Shares of NYSE:BSX opened at $43.58 on Wednesday. The company has a market cap of $63.15 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 1.29 and a beta of 0.60. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65. 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 $44.55 and a 200 day moving average price of $56.38.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. Boston Scientific had a return on equity of 18.73% and a net margin of 16.62%. The company had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. As a group, equities research analysts predict that Boston Scientific Corporation will post 3.17 earnings per share for the current year.

About Boston Scientific

Boston Scientific Corporation is a medical technology company that develops, manufactures and markets devices used to diagnose and treat a broad range of complex medical conditions. Founded in 1979 and headquartered in Marlborough, Massachusetts, the company serves healthcare providers and patients worldwide.

Its products support minimally invasive procedures in areas including interventional cardiology, peripheral interventions, electrophysiology, endoscopy, urology and neuromodulation.