CIBC Private Wealth Group LLC boosted its holdings in Boston Scientific Co. (NYSE:BSX) by 159.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,514 shares of the medical equipment provider’s stock after buying an additional 10,755 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Boston Scientific were worth $712,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in BSX. Alps Advisors Inc. boosted its stake in shares of Boston Scientific by 12.2% during the second quarter. Alps Advisors Inc. now owns 17,230 shares of the medical equipment provider’s stock valued at $741,000 after purchasing an additional 1,874 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Boston Scientific by 2.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 5,654,915 shares of the medical equipment provider’s stock valued at $243,049,000 after purchasing an additional 119,294 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Boston Scientific during the third quarter valued at about $89,000. Cullen Frost Bankers Inc. boosted its stake in shares of Boston Scientific by 28.7% during the second quarter. Cullen Frost Bankers Inc. now owns 407,826 shares of the medical equipment provider’s stock valued at $17,528,000 after purchasing an additional 90,900 shares in the last quarter. Finally, MidWestOne Financial Group Inc. acquired a new stake in shares of Boston Scientific during the second quarter valued at about $444,000. 91.61% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on BSX. Stifel Nicolaus set a $47.00 price target on Boston Scientific and gave the company a “buy” rating in a research note on Friday, September 6th. Barclays reissued an “overweight” rating and set a $48.00 price target on shares of Boston Scientific in a research note on Tuesday, September 3rd. Jefferies Financial Group lifted their price target on Boston Scientific from $44.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, June 27th. BTIG Research set a $46.00 price target on Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Leerink Swann set a $50.00 price target on Boston Scientific and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.96.
Shares of BSX opened at $38.18 on Wednesday. Boston Scientific Co. has a 1 year low of $31.56 and a 1 year high of $43.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.31 and a quick ratio of 1.04. The company has a market capitalization of $53.84 billion, a price-to-earnings ratio of 26.11, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The business has a 50-day moving average of $40.74 and a 200-day moving average of $40.31.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.01. Boston Scientific had a return on equity of 23.29% and a net margin of 13.85%. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Boston Scientific Co. will post 1.56 EPS for the current year.
In other Boston Scientific news, CFO Daniel J. Brennan sold 20,462 shares of Boston Scientific stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $39.44, for a total value of $807,021.28. Following the completion of the sale, the chief financial officer now directly owns 235,422 shares in the company, valued at $9,285,043.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Maulik Nanavaty sold 34,035 shares of Boston Scientific stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $42.65, for a total value of $1,451,592.75. The disclosure for this sale can be found here. Insiders have sold 91,449 shares of company stock valued at $3,790,048 over the last 90 days. 0.66% of the stock is owned by corporate insiders.
Boston Scientific Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
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