Commerzbank Aktiengesellschaft FI Boosts Stake in Boston Scientific Co. (NYSE:BSX)

Commerzbank Aktiengesellschaft FI grew its stake in Boston Scientific Co. (NYSE:BSX) by 37.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,657 shares of the medical equipment provider’s stock after buying an additional 3,177 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Boston Scientific were worth $977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eagle Bay Advisors LLC raised its holdings in shares of Boston Scientific by 542.1% during the first quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. First Foundation Advisors purchased a new position in shares of Boston Scientific during the first quarter worth $25,000. Triad Wealth Partners LLC purchased a new position in shares of Boston Scientific during the second quarter worth $26,000. Andra AP fonden purchased a new position in shares of Boston Scientific during the second quarter worth $29,000. Finally, RiverPark Advisors LLC acquired a new stake in Boston Scientific during the first quarter valued at $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Price Performance

Shares of BSX stock opened at $87.45 on Thursday. 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 firm’s 50-day moving average is $83.19 and its two-hundred day moving average is $77.57. Boston Scientific Co. has a 12 month low of $49.15 and a 12 month high of $88.79. The company has a market capitalization of $128.30 billion, a PE ratio of 73.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80.

Boston Scientific (NYSE:BSX) last released its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The business’s revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.53 EPS. Analysts predict that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on BSX. Barclays raised their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird lifted their target price 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. Royal Bank of Canada lifted their target price on shares of Boston Scientific from $85.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Bank of America lifted their target price on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.68.

Insider Activity

In other news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,572,096 shares in the company, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares of the company’s stock, valued at $3,061,135.60. This trade 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. Company insiders own 0.50% of the company’s stock.

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.