MidWestOne Financial Group Inc. Trims Position in Boston Scientific Co. (NYSE:BSX)

MidWestOne Financial Group Inc. reduced its position in Boston Scientific Co. (NYSE:BSX) by 3.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,646 shares of the medical equipment provider’s stock after selling 619 shares during the period. MidWestOne Financial Group Inc.’s holdings in Boston Scientific were worth $1,282,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of BSX. Precision Wealth Strategies LLC purchased a new position in Boston Scientific during the fourth quarter worth about $956,000. Aveo Capital Partners LLC lifted its holdings in shares of Boston Scientific by 1.3% during the 4th quarter. Aveo Capital Partners LLC now owns 12,841 shares of the medical equipment provider’s stock worth $742,000 after acquiring an additional 171 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of Boston Scientific by 19.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 25,379 shares of the medical equipment provider’s stock worth $1,467,000 after acquiring an additional 4,127 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new stake in Boston Scientific in the fourth quarter valued at approximately $1,237,000. Finally, Scotia Capital Inc. increased its position in Boston Scientific by 70.1% during the fourth quarter. Scotia Capital Inc. now owns 17,021 shares of the medical equipment provider’s stock worth $984,000 after purchasing an additional 7,014 shares during the last quarter. 89.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BSX shares. StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley upped their price target on Boston Scientific from $79.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, July 15th. Truist Financial lifted their price objective on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Needham & Company LLC increased their target price on shares of Boston Scientific from $82.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird lifted 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. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Boston Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $86.65.

Boston Scientific Stock Up 0.4 %

Shares of NYSE BSX opened at $83.38 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.14 and a current ratio of 1.61. Boston Scientific Co. has a 1 year low of $48.35 and a 1 year high of $84.89. The stock’s 50-day simple moving average is $79.33 and its 200-day simple moving average is $75.19. The firm has a market cap of $122.33 billion, a price-to-earnings ratio of 70.07, a PEG ratio of 2.78 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, topping 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the previous year, the business earned $0.53 EPS. Boston Scientific’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, equities analysts anticipate that Boston Scientific Co. will post 2.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at approximately $2,978,734.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders sold 20,949 shares of company stock worth $1,627,877. Insiders own 0.50% of the company’s stock.

Boston Scientific Profile

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.