HTLF Bank Trims Stake in Boston Scientific Co. (NYSE:BSX)

HTLF Bank decreased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 7.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 5,124 shares of the medical equipment provider’s stock after selling 410 shares during the quarter. HTLF Bank’s holdings in Boston Scientific were worth $429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Triad Wealth Partners LLC acquired a new position in Boston Scientific in the 2nd quarter valued at about $26,000. First Foundation Advisors acquired a new stake in Boston Scientific during the first quarter worth approximately $25,000. Eagle Bay Advisors LLC raised its holdings in Boston Scientific by 542.1% in the 1st quarter. Eagle Bay Advisors LLC now owns 366 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Andra AP fonden purchased a new position in shares of Boston Scientific during the 2nd quarter worth $29,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Boston Scientific during the second quarter worth $30,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Canaccord Genuity Group lifted their price target on Boston Scientific from $83.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Barclays boosted their target price on Boston Scientific from $78.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, August 22nd. Finally, Robert W. Baird increased their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $88.55.

Boston Scientific Stock Down 0.9 %

NYSE:BSX traded down $0.78 during mid-day trading on Tuesday, reaching $86.77. The stock had a trading volume of 6,071,716 shares, compared to its average volume of 5,971,533. The stock’s 50 day simple moving average is $81.50 and its two-hundred day simple moving average is $76.69. Boston Scientific Co. has a 1-year low of $49.15 and a 1-year high of $88.09. The company has a market capitalization of $127.30 billion, a price-to-earnings ratio of 73.05, a price-to-earnings-growth ratio of 2.87 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.61 and a quick ratio of 1.14.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 16.59% and a net margin of 12.00%. The business’s quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. Equities analysts anticipate that Boston Scientific Co. will post 2.4 EPS for the current year.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction that occurred on 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 directly owns 160,467 shares in the company, valued at approximately $13,639,695. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Boston Scientific news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the transaction, the executive vice president now directly owns 40,188 shares of the company’s stock, valued at $2,978,734.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’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 transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now owns 160,467 shares in the company, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 316,253 shares of company stock valued at $26,714,298. Company insiders own 0.50% of the company’s stock.

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.