DekaBank Deutsche Girozentrale Sells 123,389 Shares of Boston Scientific Co. (NYSE:BSX)

by · The Cerbat Gem

DekaBank Deutsche Girozentrale cut its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,844,793 shares of the medical equipment provider’s stock after selling 123,389 shares during the period. DekaBank Deutsche Girozentrale owned about 0.13% of Boston Scientific worth $155,418,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of BSX. Vanguard Group Inc. lifted its position in shares of Boston Scientific by 1.6% during the first quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after purchasing an additional 1,988,082 shares in the last quarter. Capital World Investors boosted its stake in shares of Boston Scientific by 69.9% in the 1st quarter. Capital World Investors now owns 16,008,085 shares of the medical equipment provider’s stock worth $1,096,394,000 after buying an additional 6,588,256 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Boston Scientific by 2.7% in the second quarter. Legal & General Group Plc now owns 13,922,773 shares of the medical equipment provider’s stock valued at $1,072,195,000 after acquiring an additional 360,793 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Boston Scientific by 30.0% during the second quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock valued at $608,349,000 after acquiring an additional 1,824,405 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Boston Scientific by 15.0% during the first quarter. Canada Pension Plan Investment Board now owns 7,897,203 shares of the medical equipment provider’s stock worth $540,879,000 after acquiring an additional 1,027,543 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Price Performance

BSX stock opened at $84.73 on Friday. The firm has a 50 day simple moving average of $83.47 and a two-hundred day simple moving average of $77.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The stock has a market cap of $124.31 billion, a PE ratio of 71.20, a P/E/G ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a one year low of $49.15 and a one year high of $88.79.

Boston Scientific (NYSE:BSX – Get Free Report) last released its 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. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $4.04 billion. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue was up 19.3% on a year-over-year basis. On average, analysts predict that Boston Scientific Co. will post 2.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BSX has been the subject of a number of recent analyst reports. Sanford C. Bernstein upped their price objective on Boston Scientific from $92.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday. Robert W. Baird increased their price target on shares of Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America lifted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Citigroup increased their target price on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Boston Scientific from $73.00 to $78.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $93.39.

Check Out Our Latest Research Report on Boston Scientific

Insider Activity at Boston Scientific

In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 1,572,096 shares in the company, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Michael F. Mahoney sold 162,777 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the transaction, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 316,253 shares of company stock valued at $26,714,298. Corporate insiders own 0.50% of the company’s stock.

About Boston Scientific

(Free Report)

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.

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