Montag A & Associates Inc. decreased its position in Boston Scientific Corporation (NYSE:BSX – Free Report) by 80.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,280 shares of the medical equipment provider’s stock after selling 13,864 shares during the quarter. Montag A & Associates Inc.’s holdings in Boston Scientific were worth $206,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. FWL Investment Management LLC purchased a new stake in Boston Scientific during the second quarter valued at about $26,000. Swiss RE Ltd. acquired a new stake in shares of Boston Scientific during the fourth quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Boston Scientific in the 4th quarter valued at approximately $26,000. Bangor Savings Bank lifted its position in shares of Boston Scientific by 94.7% in the 4th quarter. Bangor Savings Bank now owns 292 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 142 shares in the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in Boston Scientific in the 4th quarter worth approximately $29,000. Institutional investors own 89.07% of the company’s stock.
Boston Scientific Price Performance
NYSE BSX opened at $44.96 on Friday. The stock has a 50-day simple moving average of $49.66 and a 200 day simple moving average of $67.86. Boston Scientific Corporation has a twelve month low of $42.25 and a twelve month high of $109.50. The stock has a market capitalization of $66.82 billion, a PE ratio of 18.81, a P/E/G ratio of 0.86 and a beta of 0.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.22 and a current ratio of 1.90.
Boston Scientific announced that its Board of Directors has authorized a share repurchase plan on Monday, May 18th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Leerink Partners reduced their target price on Boston Scientific from $87.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, May 28th. The Goldman Sachs Group set a $71.00 price target on Boston Scientific in a research report on Thursday, May 28th. Stifel Nicolaus reduced their price objective on Boston Scientific from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Weiss Ratings lowered Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday. Finally, BTIG Research reaffirmed a “buy” rating and set a $65.00 target price on shares of Boston Scientific in a research note on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $81.32.
Check Out Our Latest Analysis on BSX
Insider Transactions at Boston Scientific
In other Boston Scientific news, Director David C. Habiger purchased 2,250 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was acquired at an average cost of $55.92 per share, with a total value of $125,820.00. Following the completion of the acquisition, the director directly owned 13,878 shares of the company’s stock, valued at $776,057.76. This represents a 19.35% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward J. Ludwig acquired 3,580 shares of the stock in a transaction on Wednesday, May 20th. The stock was bought at an average price of $56.68 per share, with a total value of $202,914.40. Following the transaction, the director directly owned 25,359 shares in the company, valued at approximately $1,437,348.12. This represents a 16.44% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 9,800 shares of company stock valued at $554,012. Corporate insiders own 0.34% of the company’s stock.
About Boston Scientific
Boston Scientific Corporation (NYSE: BSX) is a global medical device company that develops, manufactures and markets a broad portfolio of products used in less-invasive medical procedures. Founded in 1979 by John Abele and Peter Nicholas, the company is headquartered in Marlborough, Massachusetts, and focuses on technologies that enable physicians to treat a wide range of cardiovascular, digestive, urologic, pulmonary and chronic pain conditions without open surgery.
Boston Scientific’s activities span product development, clinical research, regulatory affairs and commercial sales.
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