Hilltop Holdings Inc. Buys 7,564 Shares of Boston Scientific Co. (NYSE:BSX)

by · The Cerbat Gem

Hilltop Holdings Inc. increased its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 117.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,016 shares of the medical equipment provider’s stock after acquiring an additional 7,564 shares during the quarter. Hilltop Holdings Inc.’s holdings in Boston Scientific were worth $1,175,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BSX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after buying an additional 173,034 shares during the period. BDF Gestion acquired a new position in Boston Scientific in the second quarter valued at approximately $3,570,000. Brookstone Capital Management lifted its holdings in Boston Scientific by 389.1% in the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock valued at $5,414,000 after buying an additional 55,645 shares during the period. HWG Holdings LP acquired a new position in Boston Scientific in the second quarter valued at approximately $482,000. Finally, PGGM Investments lifted its holdings in Boston Scientific by 9.6% in the second quarter. PGGM Investments now owns 117,794 shares of the medical equipment provider’s stock valued at $9,071,000 after buying an additional 10,366 shares during the period. 89.07% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. This trade represents a 9.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Arthur C. Butcher sold 14,010 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.27, for a total transaction of $1,250,672.70. Following the sale, the executive vice president now owns 978 shares of the company’s stock, valued at approximately $87,306.06. This represents a 93.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 321,174 shares of company stock valued at $27,323,759 in the last quarter. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX opened at $90.47 on Wednesday. The firm has a 50-day moving average of $86.97 and a 200-day moving average of $81.03. Boston Scientific Co. has a one year low of $53.93 and a one year high of $91.93. The company has a market cap of $133.34 billion, a PE ratio of 74.77, a price-to-earnings-growth ratio of 2.66 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02.

Boston Scientific (NYSE:BSX – Get Free Report) last announced its quarterly earnings data 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 net margin of 11.26% and a return on equity of 17.23%. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same quarter last year, the firm posted $0.50 EPS. The company’s quarterly revenue was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BTIG Research increased their price objective on shares of Boston Scientific from $84.00 to $93.00 and gave the company a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada increased their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Raymond James increased their target price on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company increased their target price on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Get Our Latest Research Report on BSX

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.

Further Reading

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