Commerce Bank Cuts Stake in Boston Scientific Co. (NYSE:BSX)

Commerce Bank reduced its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 1.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 62,757 shares of the medical equipment provider’s stock after selling 1,240 shares during the period. Commerce Bank’s holdings in Boston Scientific were worth $3,628,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Allstate Corp increased its stake in Boston Scientific by 2.9% during the 4th quarter. Allstate Corp now owns 5,938 shares of the medical equipment provider’s stock worth $343,000 after buying an additional 165 shares during the period. Frazier Financial Advisors LLC purchased a new stake in Boston Scientific during the 4th quarter worth approximately $32,000. Alpha Family Trust purchased a new stake in Boston Scientific during the 4th quarter worth approximately $216,000. EverSource Wealth Advisors LLC increased its stake in Boston Scientific by 9.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,121 shares of the medical equipment provider’s stock worth $123,000 after buying an additional 185 shares during the period. Finally, Dai ichi Life Insurance Company Ltd increased its stake in Boston Scientific by 11.0% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 317,449 shares of the medical equipment provider’s stock worth $18,352,000 after buying an additional 31,572 shares during the period. 89.07% of the stock is owned by hedge funds and other institutional investors.

Boston Scientific Stock Up 1.7 %

Shares of Boston Scientific stock opened at $75.63 on Monday. The company has a market cap of $110.96 billion, a P/E ratio of 63.55, a PEG ratio of 2.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.14 and a current ratio of 1.66. Boston Scientific Co. has a one year low of $48.35 and a one year high of $76.25. The firm has a fifty day moving average of $70.61 and a two-hundred day moving average of $63.86.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.68 billion. Boston Scientific had a net margin of 12.06% and a return on equity of 16.39%. On average, analysts forecast that Boston Scientific Co. will post 2.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares in the company, valued at approximately $3,032,300.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Eric Francis Yves Thepaut sold 12,931 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $74.14, for a total value of $958,704.34. Following the completion of the transaction, the executive vice president now owns 31,422 shares in the company, valued at approximately $2,329,627.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward J. Ludwig sold 9,818 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $73.29, for a total transaction of $719,561.22. Following the completion of the transaction, the director now owns 41,374 shares of the company’s stock, valued at approximately $3,032,300.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,616 shares of company stock worth $4,819,057. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Argus boosted their price target on shares of Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Barclays boosted their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Robert W. Baird boosted their price target on shares of Boston Scientific from $79.00 to $84.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Mizuho boosted their price target on shares of Boston Scientific from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, May 15th. Finally, UBS Group upped their target price on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Two analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Boston Scientific has a consensus rating of “Moderate Buy” and an average price target of $75.41.

Boston Scientific Company 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.