Cypress Capital Group Acquires 794 Shares of Boston Scientific Co. (NYSE:BSX)

Cypress Capital Group grew its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 19.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,784 shares of the medical equipment provider’s stock after buying an additional 794 shares during the period. Cypress Capital Group’s holdings in Boston Scientific were worth $401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Triad Wealth Partners LLC bought a new position in Boston Scientific in the 2nd quarter worth $26,000. Values First Advisors Inc. bought a new stake in Boston Scientific during the 3rd quarter valued at approximately $28,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Boston Scientific during the 3rd quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in shares of Boston Scientific in the 3rd quarter valued at approximately $30,000. Finally, Andra AP fonden bought a new stake in shares of Boston Scientific during the second quarter valued at approximately $29,000. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 45.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $84.63, for a total value of $13,775,817.51. Following the transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 over the last quarter. 0.50% of the stock is currently owned by company insiders.

Boston Scientific Price Performance

Shares of BSX stock opened at $91.54 on Friday. The stock’s 50-day simple moving average is $85.86 and its 200-day simple moving average is $80.00. The firm has a market capitalization of $134.92 billion, a price-to-earnings ratio of 75.66, a PEG ratio of 2.66 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

Boston Scientific (NYSE:BSX) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The business’s revenue was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.50 EPS. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BSX shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Sanford C. Bernstein raised their price objective on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. BTIG Research boosted their price target on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus raised their price objective on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific 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.