Crossmark Global Holdings Inc. Decreases Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Crossmark Global Holdings Inc. lowered its stake in Boston Scientific Co. (NYSE:BSX) by 2.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 92,631 shares of the medical equipment provider’s stock after selling 2,259 shares during the period. Crossmark Global Holdings Inc.’s holdings in Boston Scientific were worth $7,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. CVA Family Office LLC boosted its stake in Boston Scientific by 7.4% in the 2nd quarter. CVA Family Office LLC now owns 1,909 shares of the medical equipment provider’s stock worth $147,000 after purchasing an additional 131 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of Boston Scientific by 8.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,923 shares of the medical equipment provider’s stock worth $148,000 after buying an additional 143 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Boston Scientific by 2.0% during the first quarter. Pinnacle Associates Ltd. now owns 7,478 shares of the medical equipment provider’s stock worth $512,000 after acquiring an additional 148 shares during the last quarter. Transcend Capital Advisors LLC grew its stake in Boston Scientific by 2.2% during the second quarter. Transcend Capital Advisors LLC now owns 6,773 shares of the medical equipment provider’s stock valued at $522,000 after acquiring an additional 148 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its holdings in Boston Scientific by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 9,225 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 150 shares during the last quarter. Institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of Boston Scientific stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $77.30, for a total transaction of $539,785.90. Following the completion of the sale, the executive vice president now owns 42,908 shares of the company’s stock, valued at $3,316,788.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 20,949 shares of company stock valued at $1,583,395 in the last three months. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James raised their price objective on Boston Scientific from $85.00 to $91.00 and gave the company a “strong-buy” rating in a research report on Thursday, July 25th. Truist Financial raised their price target on Boston Scientific from $86.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Citigroup upped their price objective on Boston Scientific from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Morgan Stanley raised their target price on shares of Boston Scientific from $79.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Finally, Barclays upped their price target on shares of Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.24.

Boston Scientific Trading Up 1.4 %

Shares of BSX stock traded up $1.12 on Friday, reaching $81.79. 7,549,869 shares of the company’s stock were exchanged, compared to its average volume of 6,104,259. The company’s fifty day simple moving average is $76.86 and its 200 day simple moving average is $72.81. Boston Scientific Co. has a 52 week low of $48.35 and a 52 week high of $82.10. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $119.99 billion, a PE ratio of 68.73, a P/E/G ratio of 2.49 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last released its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a return on equity of 16.80% and a net margin of 12.00%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. As a group, analysts forecast that Boston Scientific Co. will post 2.4 EPS for the current year.

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.