Commerce Bank increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 12.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,906 shares of the medical equipment provider’s stock after purchasing an additional 9,924 shares during the period. Commerce Bank’s holdings in Boston Scientific were worth $3,412,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in BSX. Norges Bank acquired a new stake in shares of Boston Scientific during the fourth quarter worth $468,943,000. Oregon Public Employees Retirement Fund grew its stake in shares of Boston Scientific by 7,922.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,978,846 shares of the medical equipment provider’s stock worth $339,000 after purchasing an additional 11,829,528 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Boston Scientific by 164.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,944,961 shares of the medical equipment provider’s stock worth $280,775,000 after purchasing an additional 4,941,897 shares during the period. BlackRock Inc. grew its stake in shares of Boston Scientific by 3.7% during the fourth quarter. BlackRock Inc. now owns 116,508,996 shares of the medical equipment provider’s stock worth $4,117,428,000 after purchasing an additional 4,195,164 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Boston Scientific by 11.3% during the fourth quarter. Geode Capital Management LLC now owns 16,982,002 shares of the medical equipment provider’s stock worth $599,030,000 after purchasing an additional 1,724,046 shares during the period. 91.31% of the stock is owned by institutional investors and hedge funds.
BSX has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price on shares of Boston Scientific in a research note on Wednesday, February 6th. Guggenheim reissued a “buy” rating and issued a $48.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. SunTrust Banks reissued a “buy” rating and issued a $47.00 target price on shares of Boston Scientific in a research note on Friday, February 8th. Canaccord Genuity reissued a “buy” rating and issued a $45.00 target price on shares of Boston Scientific in a research note on Monday, February 11th. Finally, Argus boosted their target price on Boston Scientific from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Wednesday, February 13th. Three analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Boston Scientific currently has a consensus rating of “Buy” and an average target price of $41.53.
In other news, CFO Daniel J. Brennan sold 64,223 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $40.84, for a total value of $2,622,867.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maulik Nanavaty sold 3,038 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $36.74, for a total value of $111,616.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 258,500 shares of company stock worth $10,341,910. Corporate insiders own 0.66% of the company’s stock.
Shares of Boston Scientific stock opened at $37.79 on Friday. The stock has a market capitalization of $52.43 billion, a PE ratio of 25.71, a PEG ratio of 2.23 and a beta of 0.83. Boston Scientific Co. has a one year low of $29.96 and a one year high of $41.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.12 and a current ratio of 1.39.
Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The firm had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.54 billion. Boston Scientific had a net margin of 18.08% and a return on equity of 24.65%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 earnings per share. Analysts predict that Boston Scientific Co. will post 1.55 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was originally posted by Macon Daily and is the sole property of of Macon Daily. If you are reading this news story on another domain, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The original version of this news story can be read at https://macondaily.com/2019/05/24/commerce-bank-has-3-41-million-position-in-boston-scientific-co-bsx.html.
About Boston Scientific
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.
Featured Article: What is required to own or exchange cryptocurrency?
Want to see what other hedge funds are holding BSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boston Scientific Co. (NYSE:BSX).
Receive News & Ratings for Boston Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boston Scientific and related companies with MarketBeat.com's FREE daily email newsletter.