Boston Scientific Co. (NYSE:BSX) Holdings Lowered by Amalgamated Bank

Amalgamated Bank trimmed its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 296,304 shares of the medical equipment provider’s stock after selling 446 shares during the period. Amalgamated Bank’s holdings in Boston Scientific were worth $24,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BSX. Norden Group LLC bought a new stake in shares of Boston Scientific in the 1st quarter worth approximately $576,000. Private Advisor Group LLC raised its holdings in shares of Boston Scientific by 19.4% in the 1st quarter. Private Advisor Group LLC now owns 31,916 shares of the medical equipment provider’s stock worth $2,186,000 after purchasing an additional 5,181 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Boston Scientific by 18.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 207,410 shares of the medical equipment provider’s stock worth $14,206,000 after purchasing an additional 32,121 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Boston Scientific by 5.1% in the 1st quarter. Nordea Investment Management AB now owns 106,096 shares of the medical equipment provider’s stock worth $7,288,000 after purchasing an additional 5,184 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Boston Scientific by 43.1% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,636 shares of the medical equipment provider’s stock worth $249,000 after purchasing an additional 1,096 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. BTIG Research boosted their price target on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Robert W. Baird boosted their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. TD Cowen boosted their price target on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price target on shares of Boston Scientific from $95.00 to $98.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $93.39.

Insider Transactions at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the transaction, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were 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 directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the transaction, the executive vice president now owns 34,748 shares of the company’s stock, valued at approximately $2,913,967.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 309,270 shares of company stock worth $26,196,718. 0.50% of the stock is owned by insiders.

Boston Scientific Price Performance

Shares of Boston Scientific stock opened at $84.72 on Tuesday. The firm has a fifty day simple moving average of $84.10 and a 200-day simple moving average of $78.55. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 1-year low of $50.84 and a 1-year high of $88.79. The stock has a market capitalization of $124.76 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The business had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the company earned $0.50 earnings per share. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, sell-side analysts expect that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Boston Scientific Company Profile

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.