Glenmede Trust Co. NA Increases Stake in Boston Scientific Co. (NYSE:BSX)

Glenmede Trust Co. NA grew its position in Boston Scientific Co. (NYSE:BSX) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,463 shares of the medical equipment provider’s stock after acquiring an additional 3,261 shares during the period. Glenmede Trust Co. NA’s holdings in Boston Scientific were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. CRA Financial Services LLC raised its position in Boston Scientific by 4.3% in the third quarter. CRA Financial Services LLC now owns 2,841 shares of the medical equipment provider’s stock worth $238,000 after acquiring an additional 117 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Boston Scientific by 9.7% in the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,352 shares of the medical equipment provider’s stock valued at $115,000 after purchasing an additional 119 shares during the period. Adero Partners LLC boosted its holdings in Boston Scientific by 3.6% during the third quarter. Adero Partners LLC now owns 3,617 shares of the medical equipment provider’s stock worth $303,000 after buying an additional 127 shares in the last quarter. Ashton Thomas Securities LLC grew its position in Boston Scientific by 1.3% during the third quarter. Ashton Thomas Securities LLC now owns 9,968 shares of the medical equipment provider’s stock worth $835,000 after buying an additional 129 shares during the period. Finally, CVA Family Office LLC increased its holdings in Boston Scientific by 7.4% in the second quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock valued at $147,000 after buying an additional 131 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Edward J. Ludwig sold 4,877 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the sale, the director now directly owns 39,398 shares in the company, valued at approximately $3,610,038.74. This trade represents a 11.02 % decrease in their position. The sale 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 company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $89.27, for a total value of $1,250,672.70. Following the completion of the transaction, 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. In the last quarter, insiders sold 328,157 shares of company stock valued at $27,894,270. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Sanford C. Bernstein boosted their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen upped their target price on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company raised their price target on Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Citigroup boosted their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Stifel Nicolaus raised their target price on shares of Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

Boston Scientific Stock Down 0.1 %

Shares of BSX opened at $90.66 on Monday. The firm has a market cap of $133.62 billion, a PE ratio of 74.93, a price-to-earnings-growth ratio of 2.67 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average is $86.70 and its two-hundred day moving average is $80.80. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.93.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The firm had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.50 earnings per share. Analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

About Boston Scientific

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.