M&T Bank Corp Trims Holdings in Boston Scientific Co. (NYSE:BSX)

M&T Bank Corp decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 117,735 shares of the medical equipment provider’s stock after selling 2,278 shares during the period. M&T Bank Corp’s holdings in Boston Scientific were worth $4,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Boston Scientific by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 113,120,042 shares of the medical equipment provider’s stock worth $3,971,645,000 after buying an additional 1,393,290 shares during the last quarter. Standard Life Aberdeen plc raised its position in Boston Scientific by 1.2% during the 3rd quarter. Standard Life Aberdeen plc now owns 9,817,959 shares of the medical equipment provider’s stock worth $375,144,000 after buying an additional 117,770 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Boston Scientific by 3.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 6,262,390 shares of the medical equipment provider’s stock worth $219,873,000 after buying an additional 232,804 shares during the last quarter. Swiss National Bank raised its position in Boston Scientific by 1.9% during the 2nd quarter. Swiss National Bank now owns 5,727,925 shares of the medical equipment provider’s stock worth $201,107,000 after buying an additional 107,600 shares during the last quarter. Finally, Marshall Wace North America L.P. raised its position in Boston Scientific by 3.3% during the 2nd quarter. Marshall Wace North America L.P. now owns 5,253,549 shares of the medical equipment provider’s stock worth $184,454,000 after buying an additional 166,825 shares during the last quarter. Institutional investors own 90.24% of the company’s stock.

A number of brokerages have commented on BSX. SVB Leerink upped their price objective on shares of Boston Scientific from $40.00 to $43.00 and gave the stock a “market perform” rating in a research report on Thursday, July 30th. Wolfe Research started coverage on shares of Boston Scientific in a report on Friday, September 11th. They issued a “market perform” rating and a $46.00 price target for the company. Citigroup increased their price target on shares of Boston Scientific from $44.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Jefferies Financial Group increased their price target on shares of Boston Scientific from $43.00 to $46.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Zacks Investment Research downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating and set a $39.00 price target for the company. in a report on Tuesday, October 27th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the stock. Boston Scientific currently has an average rating of “Buy” and a consensus price target of $44.13.

In other Boston Scientific news, SVP Wendy Carruthers sold 10,200 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $39.16, for a total transaction of $399,432.00. Following the sale, the senior vice president now directly owns 178,973 shares of the company’s stock, valued at approximately $7,008,582.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jeffrey B. Mirviss sold 60,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $40.93, for a total transaction of $2,455,800.00. Following the sale, the executive vice president now directly owns 115,622 shares in the company, valued at $4,732,408.46. The disclosure for this sale can be found here. Insiders have sold a total of 194,979 shares of company stock worth $7,943,609 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Boston Scientific stock opened at $38.03 on Tuesday. Boston Scientific Co. has a 12-month low of $24.10 and a 12-month high of $46.62. The stock has a market capitalization of $54.46 billion, a P/E ratio of 14.57, a P/E/G ratio of 3.38 and a beta of 0.98. The firm’s 50-day moving average is $37.63 and its two-hundred day moving average is $37.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.87 and a quick ratio of 1.42.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Monday, November 2nd. The medical equipment provider reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.12. Boston Scientific had a net margin of 36.59% and a return on equity of 11.54%. As a group, analysts forecast that Boston Scientific Co. will post 1.09 EPS 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 three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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