Boston Scientific Co. (NYSE:BSX) Stock Holdings Increased by Cypress Capital Group

Cypress Capital Group lifted its holdings in Boston Scientific Co. (NYSE:BSX) by 19.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,784 shares of the medical equipment provider’s stock after purchasing an additional 794 shares during the quarter. Cypress Capital Group’s holdings in Boston Scientific were worth $401,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Edgestream Partners L.P. acquired a new stake in shares of Boston Scientific during the 1st quarter valued at $366,000. Bessemer Group Inc. lifted its holdings in shares of Boston Scientific by 20.6% during the first quarter. Bessemer Group Inc. now owns 17,025 shares of the medical equipment provider’s stock valued at $1,166,000 after purchasing an additional 2,906 shares during the last quarter. EP Wealth Advisors LLC boosted its position in shares of Boston Scientific by 4.1% in the 1st quarter. EP Wealth Advisors LLC now owns 12,552 shares of the medical equipment provider’s stock valued at $860,000 after purchasing an additional 497 shares during the period. Advisors Asset Management Inc. increased its stake in Boston Scientific by 45.6% in the 1st quarter. Advisors Asset Management Inc. now owns 7,544 shares of the medical equipment provider’s stock worth $517,000 after purchasing an additional 2,361 shares in the last quarter. Finally, Capital International Inc. CA purchased a new stake in Boston Scientific during the first quarter valued at about $2,156,000. 89.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now directly owns 37,468 shares in the company, valued at $3,061,135.60. This trade represents a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 309,270 shares of company stock worth $26,196,718. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on BSX shares. Stifel Nicolaus boosted their price objective on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada upped 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. Raymond James upped their price objective on shares of Boston Scientific from $91.00 to $94.00 and gave the company a “strong-buy” rating in a research report on Wednesday, September 4th. Canaccord Genuity Group upped their price target on Boston Scientific from $88.00 to $98.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Sanford C. Bernstein lifted their price target on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Four 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 stock. According to MarketBeat.com, Boston Scientific has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Boston Scientific Price Performance

BSX stock opened at $91.54 on Friday. The company’s 50-day moving average price is $85.86 and its two-hundred day moving average price is $80.00. The firm has a market cap of $134.92 billion, a P/E ratio of 75.66, a P/E/G ratio of 2.66 and a beta of 0.79. Boston Scientific Co. has a 12 month low of $53.93 and a 12 month high of $91.72. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, analysts anticipate that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.