M&T Bank Corp Boosts Stock Holdings in Boston Scientific Co. (NYSE:BSX)

M&T Bank Corp raised its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,127 shares of the medical equipment provider’s stock after purchasing an additional 370 shares during the period. M&T Bank Corp’s holdings in Boston Scientific were worth $8,894,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in Boston Scientific by 4.4% during the 3rd 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 in the last quarter. HWG Holdings LP bought a new position in shares of Boston Scientific during the 2nd quarter valued at approximately $482,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Boston Scientific by 0.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,456,741 shares of the medical equipment provider’s stock valued at $289,675,000 after purchasing an additional 30,636 shares in the last quarter. Intech Investment Management LLC increased its position in Boston Scientific by 153.5% in the third quarter. Intech Investment Management LLC now owns 197,387 shares of the medical equipment provider’s stock worth $16,541,000 after purchasing an additional 119,525 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in Boston Scientific during the third quarter valued at $567,000. 89.07% of the stock is owned by institutional investors.

Boston Scientific Trading Up 0.3 %

NYSE:BSX opened at $88.95 on Monday. The firm has a 50-day simple moving average of $88.31 and a 200-day simple moving average of $82.30. Boston Scientific Co. has a one year low of $54.96 and a one year high of $91.93. The firm has a market cap of $131.10 billion, a P/E ratio of 73.51, a P/E/G ratio of 2.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BSX. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Canaccord Genuity Group upped their price objective on Boston Scientific from $98.00 to $101.00 and gave the company a “buy” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Evercore ISI increased their price target on Boston Scientific from $82.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. Finally, Morgan Stanley lifted their price objective on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $95.96.

Insider Activity at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $83.86, for a total transaction of $585,594.38. Following the completion of the sale, the executive vice president now owns 34,748 shares of the company’s stock, valued at $2,913,967.28. This represents a 16.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Edward J. Ludwig sold 4,877 shares of Boston Scientific stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $91.63, for a total transaction of $446,879.51. Following the completion of the transaction, the director now directly owns 39,398 shares in the company, valued at $3,610,038.74. This represents a 11.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 328,157 shares of company stock valued at $27,957,676 over the last quarter. 0.50% of the stock is owned by corporate insiders.

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.