HTLF Bank Reduces Stake in Boston Scientific Co. (NYSE:BSX)

by · The Cerbat Gem

HTLF Bank lessened its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,124 shares of the medical equipment provider’s stock after selling 410 shares during the period. HTLF Bank’s holdings in Boston Scientific were worth $429,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors lifted 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 valued at $1,096,394,000 after purchasing an additional 6,588,256 shares during the last quarter. Marshall Wace LLP boosted its stake in Boston Scientific by 115.9% during the second quarter. Marshall Wace LLP now owns 6,720,480 shares of the medical equipment provider’s stock worth $517,544,000 after buying an additional 3,608,158 shares during the period. Capital Research Global Investors acquired a new stake in shares of Boston Scientific during the first quarter valued at about $182,897,000. Vanguard Group Inc. raised its stake in shares of Boston Scientific by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 127,437,884 shares of the medical equipment provider’s stock valued at $8,728,221,000 after acquiring an additional 1,988,082 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Boston Scientific by 30.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,899,610 shares of the medical equipment provider’s stock worth $608,349,000 after purchasing an additional 1,824,405 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Needham & Company LLC boosted their target price on Boston Scientific from $82.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com lowered Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Morgan Stanley lifted their target price on Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Raymond James increased their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $88.55.

Check Out Our Latest Stock Report on BSX

Boston Scientific Stock Performance

Shares of Boston Scientific stock traded down $0.78 during trading on Tuesday, reaching $86.77. The company’s stock had a trading volume of 6,071,716 shares, compared to its average volume of 5,971,533. Boston Scientific Co. has a fifty-two week low of $49.15 and a fifty-two week high of $88.09. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44. The firm has a market cap of $127.30 billion, a PE ratio of 73.05, a P/E/G ratio of 2.87 and a beta of 0.80. The company has a 50-day moving average price of $81.50 and a two-hundred day moving average price of $76.69.

Boston Scientific (NYSE:BSX – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. Boston Scientific had a return on equity of 16.59% and a net margin of 12.00%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

Insider Transactions at Boston Scientific

In related news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the business’s 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 sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now owns 40,188 shares of the company’s stock, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 316,253 shares of company stock worth $26,714,298. Company insiders own 0.50% of the company’s stock.

Boston Scientific Profile

(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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