UMB Bank n.a. Has $7.27 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

UMB Bank n.a. lifted its position in Boston Scientific Co. (NYSE:BSX) by 76.7% during the 1st quarter, Holdings Channel reports. The firm owned 72,075 shares of the medical equipment provider’s stock after buying an additional 31,276 shares during the quarter. UMB Bank n.a.’s holdings in Boston Scientific were worth $7,271,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Covenant Asset Management LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth about $3,405,000. Wealthstar Advisors LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth about $499,000. BostonPremier Wealth LLC bought a new stake in shares of Boston Scientific in the 4th quarter worth about $226,000. Bank Pictet & Cie Europe AG grew its holdings in shares of Boston Scientific by 40.8% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 73,096 shares of the medical equipment provider’s stock worth $6,529,000 after purchasing an additional 21,173 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Boston Scientific by 8.4% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 47,284 shares of the medical equipment provider’s stock worth $4,223,000 after purchasing an additional 3,683 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Boston Scientific stock opened at $102.04 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.02 and a debt-to-equity ratio of 0.41. Boston Scientific Co. has a 1 year low of $71.88 and a 1 year high of $107.17. The company has a market cap of $150.96 billion, a PE ratio of 81.63, a PEG ratio of 2.79 and a beta of 0.68. The company’s 50-day moving average is $100.49 and its two-hundred day moving average is $98.47.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Boston Scientific had a net margin of 11.07% and a return on equity of 17.80%. The company had revenue of $4.66 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the prior year, the company posted $0.56 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. Equities analysts anticipate that Boston Scientific Co. will post 2.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BSX. Barclays upped their target price on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Truist Financial increased their price objective on shares of Boston Scientific from $113.00 to $117.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. BTIG Research reissued a “buy” rating and set a $124.00 price objective on shares of Boston Scientific in a report on Wednesday, April 23rd. Erste Group Bank raised shares of Boston Scientific to a “strong-buy” rating in a report on Thursday, May 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $115.00 price objective on shares of Boston Scientific in a report on Wednesday, May 28th. Twenty-one research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $116.00.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 164,443 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.48, for a total value of $16,852,118.64. Following the sale, the chief executive officer now directly owns 1,535,706 shares in the company, valued at $157,379,150.88. This trade represents a 9.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Arthur C. Butcher sold 17,314 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $102.06, for a total transaction of $1,767,066.84. Following the completion of the sale, the executive vice president now owns 22,235 shares in the company, valued at $2,269,304.10. This represents a 43.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 411,970 shares of company stock worth $42,406,693 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Boston Scientific 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.