Country Trust Bank Acquires New Position in Boston Scientific Co. (NYSE:BSX)

Country Trust Bank acquired a new stake in Boston Scientific Co. (NYSE:BSX) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,565 shares of the medical equipment provider’s stock, valued at approximately $383,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Atomi Financial Group Inc. raised its stake in Boston Scientific by 13.7% in the 3rd quarter. Atomi Financial Group Inc. now owns 8,266 shares of the medical equipment provider’s stock valued at $693,000 after acquiring an additional 997 shares during the period. Kesler Norman & Wride LLC bought a new stake in Boston Scientific in the 3rd quarter valued at about $952,000. Bank of New Hampshire raised its stake in Boston Scientific by 52.6% in the 3rd quarter. Bank of New Hampshire now owns 2,235 shares of the medical equipment provider’s stock valued at $187,000 after acquiring an additional 770 shares during the period. Miracle Mile Advisors LLC raised its stake in Boston Scientific by 4.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 5,252 shares of the medical equipment provider’s stock valued at $440,000 after acquiring an additional 203 shares during the period. Finally, GAMMA Investing LLC raised its stake in Boston Scientific by 39.9% in the 3rd quarter. GAMMA Investing LLC now owns 17,432 shares of the medical equipment provider’s stock valued at $1,461,000 after acquiring an additional 4,972 shares during the period. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Up 1.7 %

Shares of Boston Scientific stock opened at $85.83 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific Co. has a 52-week low of $48.35 and a 52-week high of $86.09. The stock has a market capitalization of $125.92 billion, a price-to-earnings ratio of 72.13, a P/E/G ratio of 2.78 and a beta of 0.80. The company’s 50 day moving average price is $80.25 and its 200-day moving average price is $76.03.

Boston Scientific (NYSE:BSX) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.04. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The firm had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the business earned $0.53 earnings per share. The business’s revenue was up 14.5% on a year-over-year basis. Equities research analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BSX shares. Canaccord Genuity Group boosted their price objective on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BTIG Research upped their price target on Boston Scientific from $80.00 to $84.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Citigroup upped their price target on Boston Scientific from $90.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 22nd. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Barclays upped their price target on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Insider Buying and Selling

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 owns 160,467 shares of the company’s stock, valued at $13,639,695. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the transaction, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’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 transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 316,253 shares of company stock valued at $26,714,298 over the last quarter. 0.50% of the stock is owned by company insiders.

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.