Zions Bancorporation N.A. decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,280 shares of the medical equipment provider’s stock after selling 713 shares during the period. Zions Bancorporation N.A.’s holdings in Boston Scientific were worth $275,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Capital World Investors lifted its stake in 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 buying an additional 6,588,256 shares during the period. Marshall Wace LLP boosted its stake in Boston Scientific by 115.9% during the 2nd quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after acquiring an additional 3,608,158 shares during the last quarter. Capital Research Global Investors acquired a new position in Boston Scientific during the first quarter valued at approximately $182,897,000. AustralianSuper Pty Ltd increased its stake in Boston Scientific by 4,292.3% in the third quarter. AustralianSuper Pty Ltd now owns 2,676,847 shares of the medical equipment provider’s stock valued at $224,320,000 after purchasing an additional 2,615,903 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Boston Scientific by 30.0% in the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.
Analysts Set New Price Targets
BSX has been the subject of several research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Boston Scientific in a research report on Thursday, October 31st. Mizuho increased their price target on Boston Scientific from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial lifted their price objective on Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 14th. TD Cowen increased their target price on Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company lifted their price target on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.39.
Insider Buying and Selling at Boston Scientific
In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 309,270 shares of company stock valued at $26,196,718 in the last quarter. 0.50% of the stock is currently owned by insiders.
Boston Scientific Stock Down 0.7 %
Boston Scientific stock opened at $86.98 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The company’s 50-day moving average is $85.15 and its 200-day moving average is $79.39. The firm has a market capitalization of $128.19 billion, a PE ratio of 71.88, a P/E/G ratio of 2.61 and a beta of 0.79. Boston Scientific Co. has a fifty-two week low of $53.56 and a fifty-two week high of $89.30.
Boston Scientific (NYSE:BSX – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 19.3% compared to the same quarter last year. Sell-side analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current year.
About Boston Scientific
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.
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