Amalgamated Bank Sells 446 Shares of Boston Scientific Co. (NYSE:BSX)

Amalgamated Bank reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 296,304 shares of the medical equipment provider’s stock after selling 446 shares during the quarter. Amalgamated Bank’s holdings in Boston Scientific were worth $24,830,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Capital World Investors grew its position in shares of Boston Scientific by 69.9% in the first quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock valued at $1,096,394,000 after purchasing an additional 6,588,256 shares in the last quarter. Marshall Wace LLP grew its position in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares in the last quarter. Capital Research Global Investors bought a new stake in Boston Scientific during the first quarter worth about $182,897,000. AustralianSuper Pty Ltd boosted its holdings in Boston Scientific by 4,292.3% during the 3rd quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after acquiring an additional 2,615,903 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock worth $8,728,221,000 after buying an additional 1,988,082 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now directly owns 34,748 shares of the company’s stock, valued at $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 309,270 shares of company stock valued at $26,196,718. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Evercore ISI increased their target price on Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Morgan Stanley lifted their target price on Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group boosted their price objective on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Boston Scientific stock opened at $84.72 on Tuesday. Boston Scientific Co. has a 52-week low of $50.84 and a 52-week high of $88.79. The firm has a fifty day moving average of $84.10 and a 200-day moving average of $78.55. The firm has a market capitalization of $124.76 billion, a P/E ratio of 70.02, a PEG ratio of 2.46 and a beta of 0.79. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts predict that Boston Scientific Co. will post 2.46 EPS for the current year.

Boston Scientific Company Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.