US Bancorp DE Has $23.37 Million Position in Boston Scientific Co. (NYSE:BSX)

US Bancorp DE cut its holdings in Boston Scientific Co. (NYSE:BSX) by 3.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 432,096 shares of the medical equipment provider’s stock after selling 14,951 shares during the quarter. US Bancorp DE’s holdings in Boston Scientific were worth $23,372,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BSX. Fiduciary Alliance LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at $25,000. BDO Wealth Advisors LLC increased its stake in shares of Boston Scientific by 209.4% in the second quarter. BDO Wealth Advisors LLC now owns 594 shares of the medical equipment provider’s stock valued at $32,000 after buying an additional 402 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Boston Scientific in the first quarter valued at $32,000. Nemes Rush Group LLC acquired a new stake in shares of Boston Scientific in the second quarter valued at $33,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Boston Scientific in the first quarter valued at $35,000. 89.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Boston Scientific

In other news, CEO Michael F. Mahoney sold 113,356 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $52.51, for a total transaction of $5,952,323.56. Following the sale, the chief executive officer now owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Michael F. Mahoney sold 113,356 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $52.51, for a total transaction of $5,952,323.56. Following the sale, the chief executive officer now owns 1,498,922 shares in the company, valued at approximately $78,708,394.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wendy Carruthers sold 11,671 shares of the company’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $49.79, for a total value of $581,099.09. Following the sale, the executive vice president now owns 51,795 shares in the company, valued at approximately $2,578,873.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 415,596 shares of company stock worth $21,922,137. Corporate insiders own 0.71% of the company’s stock.

Boston Scientific Trading Down 0.6 %

NYSE BSX opened at $54.34 on Friday. The stock has a market capitalization of $79.61 billion, a price-to-earnings ratio of 66.27, a PEG ratio of 2.14 and a beta of 0.77. The stock’s 50 day moving average price is $52.11 and its two-hundred day moving average price is $52.32. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.90 and a current ratio of 1.42. Boston Scientific Co. has a 52 week low of $42.49 and a 52 week high of $55.38.

Boston Scientific (NYSE:BSX) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $3.53 billion for the quarter, compared to analysts’ expectations of $3.48 billion. Boston Scientific had a return on equity of 15.46% and a net margin of 8.93%. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. As a group, analysts anticipate that Boston Scientific Co. will post 2.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BSX shares. Canaccord Genuity Group raised their price target on Boston Scientific from $62.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, September 21st. Citigroup reiterated a “buy” rating and issued a $63.00 price target on shares of Boston Scientific in a report on Thursday, September 21st. UBS Group raised their price target on Boston Scientific from $63.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, September 21st. Truist Financial reiterated a “buy” rating and issued a $61.00 price target on shares of Boston Scientific in a report on Thursday, September 21st. Finally, Robert W. Baird raised their price target on Boston Scientific from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Boston Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $60.55.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. 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.