Commerzbank Aktiengesellschaft FI Cuts Stock Holdings in Boston Scientific Corporation $BSX

Commerzbank Aktiengesellschaft FI lowered its holdings in Boston Scientific Corporation (NYSE:BSX) by 74.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,438 shares of the medical equipment provider’s stock after selling 48,062 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Boston Scientific were worth $1,031,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Outfitters Financial LLC increased its holdings in Boston Scientific by 0.5% during the fourth quarter. Outfitters Financial LLC now owns 24,027 shares of the medical equipment provider’s stock valued at $2,291,000 after buying an additional 110 shares during the period. Natural Investments LLC raised its stake in Boston Scientific by 2.9% in the fourth quarter. Natural Investments LLC now owns 4,036 shares of the medical equipment provider’s stock worth $384,000 after buying an additional 112 shares in the last quarter. Thrive Wealth Management LLC lifted its holdings in Boston Scientific by 1.6% during the fourth quarter. Thrive Wealth Management LLC now owns 7,387 shares of the medical equipment provider’s stock worth $704,000 after buying an additional 117 shares during the period. Kathmere Capital Management LLC lifted its holdings in Boston Scientific by 2.3% during the fourth quarter. Kathmere Capital Management LLC now owns 5,228 shares of the medical equipment provider’s stock worth $498,000 after buying an additional 118 shares during the period. Finally, Patton Fund Management Inc. boosted its position in Boston Scientific by 5.5% during the 4th quarter. Patton Fund Management Inc. now owns 2,279 shares of the medical equipment provider’s stock valued at $217,000 after acquiring an additional 118 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Wall Street Analysts Forecast Growth

BSX has been the topic of a number of analyst reports. Wolfe Research downgraded Boston Scientific from an “outperform” rating to a “peer perform” rating in a report on Friday, May 29th. Truist Financial decreased their price objective on Boston Scientific from $64.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 16th. Jefferies Financial Group dropped their price objective on Boston Scientific from $100.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Weiss Ratings lowered Boston Scientific from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. Finally, Mizuho reduced their target price on shares of Boston Scientific from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.84.

Boston Scientific Price Performance

Shares of BSX opened at $43.14 on Wednesday. The company has a 50 day moving average of $47.77 and a two-hundred day moving average of $64.93. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.42. Boston Scientific Corporation has a twelve month low of $42.20 and a twelve month high of $109.50. The company has a market cap of $64.12 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 0.84 and a beta of 0.58.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 22nd. The medical equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. Boston Scientific had a return on equity of 19.17% and a net margin of 17.29%.The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.19 billion. During the same period in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was up 11.6% on a year-over-year basis. As a group, analysts predict that Boston Scientific Corporation will post 3.35 earnings per share for the current fiscal year.

Boston Scientific declared that its board has initiated a stock buyback plan on Monday, May 18th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Boston Scientific

In other Boston Scientific news, Director Edward J. Ludwig purchased 3,580 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was bought at an average cost of $56.68 per share, for a total transaction of $202,914.40. Following the completion of the purchase, the director owned 25,359 shares in the company, valued at $1,437,348.12. This represents a 16.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cheryl Pegus purchased 1,770 shares of the stock in a transaction on Wednesday, May 20th. The stock was acquired at an average cost of $56.49 per share, with a total value of $99,987.30. Following the acquisition, the director owned 1,770 shares of the company’s stock, valued at approximately $99,987.30. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 9,800 shares of company stock valued at $554,012 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Boston Scientific Profile

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.