B. Metzler seel. Sohn & Co. Holding AG Acquires New Stake in Boston Scientific Co. (NYSE:BSX)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Boston Scientific Co. (NYSE:BSX) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 285,690 shares of the medical equipment provider’s stock, valued at approximately $23,940,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC increased its stake in shares of Boston Scientific by 4.1% in the 1st quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock worth $381,000 after acquiring an additional 219 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Boston Scientific by 9.3% in the 1st quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock worth $1,254,000 after acquiring an additional 1,560 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Boston Scientific by 89.0% in the 1st quarter. Acadian Asset Management LLC now owns 93,258 shares of the medical equipment provider’s stock worth $6,383,000 after acquiring an additional 43,916 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Boston Scientific in the 1st quarter worth $366,000. Finally, Covestor Ltd increased its stake in shares of Boston Scientific by 99.2% in the 1st quarter. Covestor Ltd now owns 1,227 shares of the medical equipment provider’s stock worth $84,000 after acquiring an additional 611 shares during the last quarter. 89.07% of the stock is owned by institutional investors and hedge funds.

Boston Scientific Price Performance

BSX stock opened at $90.45 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $133.31 billion, a P/E ratio of 74.75, a P/E/G ratio of 2.56 and a beta of 0.79. The business’s 50-day moving average is $85.42 and its two-hundred day moving average is $79.72. Boston Scientific Co. has a 1 year low of $53.93 and a 1 year high of $91.08.

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

Insider Buying and Selling at Boston Scientific

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This trade represents a 45.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $83.86, for a total value of $585,594.38. Following the sale, the executive vice president now directly owns 34,748 shares in the company, valued at $2,913,967.28. This trade represents a 16.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock valued at $26,196,718 in the last quarter. Corporate insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Raymond James raised their target price on Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. BTIG Research raised their target price on Boston Scientific from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a report on Monday. Sanford C. Bernstein increased their price target on Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Canaccord Genuity Group increased their price target on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Four investment 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.39.

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.