Boston Scientific Co. (NYSE:BSX) Shares Sold by MidWestOne Financial Group Inc.

MidWestOne Financial Group Inc. cut its stake in shares of Boston Scientific Co. (NYSE:BSX) by 5.6% in the third quarter, HoldingsChannel.com reports. The fund owned 15,712 shares of the medical equipment provider’s stock after selling 934 shares during the period. MidWestOne Financial Group Inc.’s holdings in Boston Scientific were worth $1,317,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BSX. Triad Wealth Partners LLC purchased a new position in Boston Scientific in the 2nd quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in shares of Boston Scientific in the third quarter worth approximately $28,000. Dunhill Financial LLC increased its position in shares of Boston Scientific by 86.4% during the third quarter. Dunhill Financial LLC now owns 328 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 152 shares in the last quarter. Andra AP fonden acquired a new position in Boston Scientific in the 2nd quarter valued at $29,000. Finally, E Fund Management Hong Kong Co. Ltd. acquired a new position in Boston Scientific in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock opened at $88.74 on Tuesday. The firm has a 50 day moving average of $87.50 and a two-hundred day moving average of $81.44. The stock has a market capitalization of $130.78 billion, a PE ratio of 73.33, a P/E/G ratio of 2.65 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 52 week low of $54.86 and a 52 week high of $91.93.

Boston Scientific (NYSE:BSX) last released its 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. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $4.04 billion. During the same period last year, the business posted $0.50 earnings per share. Boston Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts predict that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Insider Transactions at Boston Scientific

In other news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction on Monday, October 7th. The shares were sold at an average price of $84.63, for a total transaction of $13,775,817.51. Following the completion of the sale, the chief executive officer now directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 9.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $90.78, for a total value of $633,916.74. Following the completion of the transaction, the executive vice president now directly owns 29,308 shares in the company, valued at $2,660,580.24. This trade represents a 19.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 328,157 shares of company stock valued at $27,957,676. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Sanford C. Bernstein upped their target price on shares of Boston Scientific from $92.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company upped their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Royal Bank of Canada raised their target price on shares of Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Boston Scientific in a research report on Wednesday, November 27th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.52.

About Boston Scientific

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.