Gulf International Bank UK Ltd Lowers Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Gulf International Bank UK Ltd decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 29.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,050 shares of the medical equipment provider’s stock after selling 47,932 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Boston Scientific were worth $9,641,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S increased its stake in Boston Scientific by 225.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 105,671 shares of the medical equipment provider’s stock worth $7,237,000 after acquiring an additional 73,219 shares during the last quarter. BDF Gestion acquired a new stake in shares of Boston Scientific in the second quarter worth $3,570,000. LRI Investments LLC purchased a new position in shares of Boston Scientific in the 1st quarter valued at $139,000. Cetera Advisor Networks LLC boosted its position in Boston Scientific by 11.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 201,426 shares of the medical equipment provider’s stock worth $13,796,000 after purchasing an additional 21,252 shares during the period. Finally, Brookstone Capital Management lifted its stake in shares of Boston Scientific by 389.1% during the second quarter. Brookstone Capital Management now owns 69,945 shares of the medical equipment provider’s stock worth $5,414,000 after purchasing an additional 55,645 shares in the last quarter. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael F. Mahoney sold 162,777 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the 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 transaction, the executive vice president now owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,270 shares of company stock worth $26,196,718 in the last ninety days. Company insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

BSX has been the subject of several analyst reports. TD Cowen upped their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, October 21st. StockNews.com cut Boston Scientific from a “buy” rating to a “hold” rating in a research note on Monday. Truist Financial raised their price objective on Boston Scientific from $90.00 to $100.00 and gave the company 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 research note on Thursday, October 31st. Finally, Citigroup increased their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Boston Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Stock Performance

Shares of Boston Scientific stock opened at $84.72 on Tuesday. The firm has a 50 day simple moving average of $84.10 and a 200 day simple moving average of $78.55. Boston Scientific Co. has a fifty-two week low of $50.84 and a fifty-two week high of $88.79. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14. The firm has a market cap of $124.76 billion, a P/E ratio of 70.02, a P/E/G ratio of 2.46 and a beta of 0.79.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a return on equity of 17.41% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.04 billion. During the same period in the previous year, the business posted $0.50 EPS. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current fiscal 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.