Nemes Rush Group LLC Sells 21,125 Shares of Boston Scientific Corporation $BSX

Nemes Rush Group LLC decreased its holdings in Boston Scientific Corporation (NYSE:BSX) by 94.9% during the third quarter, HoldingsChannel.com reports. The firm owned 1,144 shares of the medical equipment provider’s stock after selling 21,125 shares during the quarter. Nemes Rush Group LLC’s holdings in Boston Scientific were worth $50,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Perigon Wealth Management LLC purchased a new stake in Boston Scientific in the 2nd quarter valued at about $883,000. Y Intercept Hong Kong Ltd grew its stake in Boston Scientific by 148.8% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,120,331 shares of the medical equipment provider’s stock worth $47,816,000 after acquiring an additional 670,060 shares in the last quarter. Wealthfront Advisers LLC bought a new position in Boston Scientific in the 2nd quarter worth about $3,253,000. PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of Boston Scientific by 9.9% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 320,038 shares of the medical equipment provider’s stock worth $13,659,000 after acquiring an additional 28,961 shares during the period. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Boston Scientific during the second quarter worth approximately $38,539,000. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BSX shares. Jefferies Financial Group downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and decreased their price target for the company from $60.00 to $46.00 in a research note on Wednesday, October 28th. Weiss Ratings reissued a “sell (d+)” rating on shares of Boston Scientific in a research note on Friday, October 2nd. Raymond James Financial restated an “outperform” rating and set a $57.00 price objective (down from $78.00) on shares of Boston Scientific in a report on Thursday, July 30th. The Goldman Sachs Group reduced their price objective on Boston Scientific from $71.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, July 14th. Finally, Needham & Company LLC decreased their target price on Boston Scientific from $57.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.43.

Boston Scientific Stock Up 1.5%

Shares of Boston Scientific stock opened at $44.67 on Wednesday. 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 Corporation has a 1 year low of $39.57 and a 1 year high of $105.65. The firm’s 50-day moving average is $44.19 and its two-hundred day moving average is $55.23. The stock has a market cap of $64.74 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.30 and a beta of 0.60.

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