Moody National Bank Trust Division Buys Shares of 14,590 Boston Scientific Co. (NYSE:BSX)

Moody National Bank Trust Division acquired a new position in shares of Boston Scientific Co. (NYSE:BSXGet Rating) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 14,590 shares of the medical equipment provider’s stock, valued at approximately $544,000.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Boston Scientific by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 113,364,827 shares of the medical equipment provider’s stock worth $5,020,927,000 after purchasing an additional 1,743,197 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Boston Scientific by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 22,354,168 shares of the medical equipment provider’s stock worth $946,812,000 after purchasing an additional 375,333 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Boston Scientific by 14.5% during the 1st quarter. Bank of New York Mellon Corp now owns 16,137,330 shares of the medical equipment provider’s stock worth $714,721,000 after purchasing an additional 2,043,094 shares in the last quarter. Parnassus Investments LLC increased its stake in shares of Boston Scientific by 1.2% during the 1st quarter. Parnassus Investments LLC now owns 15,734,750 shares of the medical equipment provider’s stock worth $696,892,000 after purchasing an additional 194,219 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Boston Scientific by 0.3% during the 1st quarter. Northern Trust Corp now owns 13,867,256 shares of the medical equipment provider’s stock worth $614,181,000 after purchasing an additional 45,404 shares in the last quarter. 90.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Wendy Carruthers sold 7,500 shares of the firm’s stock in a transaction on Monday, July 18th. The shares were sold at an average price of $38.00, for a total value of $285,000.00. Following the transaction, the executive vice president now owns 124,913 shares of the company’s stock, valued at approximately $4,746,694. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Nelda J. Connors sold 16,088 shares of Boston Scientific stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $41.58, for a total transaction of $668,939.04. Following the sale, the director now owns 4,877 shares of the company’s stock, valued at approximately $202,785.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wendy Carruthers sold 7,500 shares of Boston Scientific stock in a transaction on Monday, July 18th. The stock was sold at an average price of $38.00, for a total transaction of $285,000.00. Following the sale, the executive vice president now directly owns 124,913 shares in the company, valued at approximately $4,746,694. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,764 shares of company stock valued at $2,718,248. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

BSX has been the topic of a number of analyst reports. Needham & Company LLC upgraded shares of Boston Scientific from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Friday, May 27th. BTIG Research raised their target price on shares of Boston Scientific from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Wolfe Research initiated coverage on shares of Boston Scientific in a research report on Tuesday, July 5th. They set an “outperform” rating and a $43.00 target price on the stock. Canaccord Genuity Group raised their target price on shares of Boston Scientific from $43.00 to $45.00 in a research report on Thursday, July 28th. Finally, Morgan Stanley decreased their target price on shares of Boston Scientific from $51.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, July 15th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $46.83.

Boston Scientific Stock Performance

Shares of BSX stock opened at $41.70 on Monday. The company’s fifty day simple moving average is $40.51 and its 200-day simple moving average is $40.91. Boston Scientific Co. has a 52 week low of $34.98 and a 52 week high of $47.49. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.51. The company has a market cap of $59.61 billion, a PE ratio of 71.90, a P/E/G ratio of 2.26 and a beta of 0.85.

Boston Scientific (NYSE:BSXGet Rating) last issued its earnings results on Wednesday, July 27th. The medical equipment provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.02. Boston Scientific had a net margin of 7.16% and a return on equity of 14.58%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Boston Scientific Co. will post 1.76 EPS for the current year.

Boston Scientific Company Profile

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Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.

Further Reading

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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