StoneRidge PMG Advisors LLC Buys New Holdings in Boston Scientific Corporation $BSX

StoneRidge PMG Advisors LLC purchased a new position in Boston Scientific Corporation (NYSE:BSX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,615 shares of the medical equipment provider’s stock, valued at approximately $638,000.

A number of other institutional investors also recently added to or reduced their stakes in BSX. Hohimer Wealth Management LLC acquired a new stake in shares of Boston Scientific in the 3rd quarter valued at $4,266,000. Brighton Jones LLC grew its stake in shares of Boston Scientific by 45.8% during the third quarter. Brighton Jones LLC now owns 80,361 shares of the medical equipment provider’s stock worth $3,508,000 after purchasing an additional 25,252 shares in the last quarter. Candriam S.C.A. increased its holdings in Boston Scientific by 17.1% in the third quarter. Candriam S.C.A. now owns 430,284 shares of the medical equipment provider’s stock valued at $18,851,000 after buying an additional 62,799 shares during the last quarter. Ethic Inc. increased its holdings in Boston Scientific by 11.1% in the third quarter. Ethic Inc. now owns 232,231 shares of the medical equipment provider’s stock valued at $10,137,000 after buying an additional 23,294 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its holdings in Boston Scientific by 37.4% in the third quarter. 180 Wealth Advisors LLC now owns 12,678 shares of the medical equipment provider’s stock valued at $553,000 after buying an additional 3,453 shares during the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Trading Up 0.2%

NYSE BSX opened at $42.82 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.36 and a quick ratio of 0.81. The firm’s fifty day moving average price is $44.32 and its 200 day moving average price is $55.70. The company has a market capitalization of $62.06 billion, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.27 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.

Boston Scientific (NYSE:BSX) last announced 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. Boston Scientific had a net margin of 16.62% and a return on equity of 18.61%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $5.09 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Boston Scientific’s quarterly revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Boston Scientific Corporation will post 3.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BSX shares. Citigroup cut their price target on Boston Scientific from $48.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, October 29th. Rothschild & Co Redburn lowered their price objective on Boston Scientific from $106.00 to $78.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. UBS Group lowered their price objective on Boston Scientific from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. Sanford C. Bernstein dropped their price objective on Boston Scientific from $54.00 to $49.00 and set an “outperform” rating on the stock in a report on Thursday, October 29th. Finally, Argus lowered Boston Scientific from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Boston Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.43.

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.

Boston Scientific serves healthcare providers and patients around the world.