Commerce Bank Has $3.41 Million Position in Boston Scientific Co. (BSX)

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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.

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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.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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