Boston Scientific Corporation $BSX Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in shares of Boston Scientific Corporation (NYSE:BSX) by 8.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 502,209 shares of the medical equipment provider’s stock after selling 46,253 shares during the quarter. Fifth Third Bancorp’s holdings in Boston Scientific were worth $21,921,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Alpha Wealth Funds LLC boosted its position in shares of Boston Scientific by 1,833.3% during the 3rd quarter. Alpha Wealth Funds LLC now owns 23,200 shares of the medical equipment provider’s stock worth $1,018,000 after purchasing an additional 22,000 shares during the period. Maryland State Retirement & Pension System raised its position in Boston Scientific by 11.5% in the third quarter. Maryland State Retirement & Pension System now owns 89,298 shares of the medical equipment provider’s stock valued at $3,898,000 after purchasing an additional 9,190 shares during the period. Jacobi Capital Management LLC acquired a new position in Boston Scientific during the third quarter worth $206,000. Jefferies Financial Group Inc. lifted its stake in Boston Scientific by 2,146.7% during the third quarter. Jefferies Financial Group Inc. now owns 581,801 shares of the medical equipment provider’s stock worth $25,396,000 after purchasing an additional 555,905 shares in the last quarter. Finally, First Command Advisory Services Inc. boosted its position in shares of Boston Scientific by 145.1% during the third quarter. First Command Advisory Services Inc. now owns 3,841 shares of the medical equipment provider’s stock worth $168,000 after buying an additional 2,274 shares during the period. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BSX has been the topic of a number of recent research reports. Robert W. Baird boosted their price target on shares of Boston Scientific from $50.00 to $51.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Stifel Nicolaus lowered their price objective on shares of Boston Scientific from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Monday, October 26th. Needham & Company LLC dropped their price objective on shares of Boston Scientific from $57.00 to $48.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. Canaccord Genuity Group lowered their target price on 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, Leerink Partners cut their price target on Boston Scientific from $55.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.43.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $44.33 on Friday. The firm’s fifty day simple moving average is $44.00 and its 200-day simple moving average is $54.50. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $104.61. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.31 and a beta of 0.60. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.81.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.73. Boston Scientific had a return on equity of 18.61% and a net margin of 16.62%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $5.09 billion. During the same quarter last year, the company posted $0.75 earnings per share. The business’s revenue was up 1.4% on a year-over-year basis. As a group, equities analysts forecast that Boston Scientific Corporation will post 3.17 earnings per share for the current year.

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.