Nan Fung Trinity HK Ltd. Acquires New Holdings in Boston Scientific Corporation $BSX

Nan Fung Trinity HK Ltd. acquired a new position in shares of Boston Scientific Corporation (NYSE:BSX) in the third quarter, HoldingsChannel reports. The institutional investor acquired 728,000 shares of the medical equipment provider’s stock, valued at approximately $31,777,000. Boston Scientific comprises 3.0% of Nan Fung Trinity HK Ltd.’s portfolio, making the stock its 11th largest position.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Boston Scientific in the second quarter valued at approximately $5,534,781,000. Primecap Management Co. CA bought a new position in shares of Boston Scientific during the second quarter worth approximately $2,156,233,000. Jupiter Topco LLC acquired a new stake in Boston Scientific during the 2nd quarter worth approximately $803,357,000. Janus Henderson Group PLC lifted its holdings in Boston Scientific by 31.0% during the 1st 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. Finally, Amundi lifted its holdings in Boston Scientific by 1.2% during the 2nd quarter. Amundi now owns 14,296,121 shares of the medical equipment provider’s stock worth $610,158,000 after purchasing an additional 173,208 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Down 2.0%

Shares of BSX opened at $44.22 on Friday. Boston Scientific Corporation has a 12 month low of $39.57 and a 12 month high of $105.65. The firm’s 50 day moving average is $44.05 and its 200-day moving average is $54.75. The stock has a market capitalization of $64.10 billion, a PE ratio of 18.74, a P/E/G ratio of 1.34 and a beta of 0.60. The company has a current ratio of 1.36, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, October 28th. The medical equipment provider reported $0.73 earnings per share 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 net margin of 16.62% and a return on equity of 18.61%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. Equities research analysts forecast that Boston Scientific Corporation will post 3.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on BSX shares. Oppenheimer downgraded Boston Scientific from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 29th. Mizuho set a $50.00 price objective on Boston Scientific in a research report on Thursday, October 29th. Barclays dropped their target price on Boston Scientific from $48.00 to $45.00 and set an “equal weight” rating for the company in a report on Friday, October 30th. Piper Sandler dropped their target price on Boston Scientific from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut shares of Boston Scientific from an “overweight” rating to a “neutral” rating and set a $46.00 target price for the company. in a research report on Wednesday, October 28th. One investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.43.

Boston Scientific Profile

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.