Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Boston Scientific Co. (NYSE:BSX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Boston Scientific Co. (NYSE:BSX) by 47.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 294,248 shares of the medical equipment provider’s stock after selling 270,264 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Boston Scientific were worth $17,010,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC purchased a new stake in shares of Boston Scientific during the fourth quarter worth approximately $28,000. Sunbelt Securities Inc. purchased a new position in Boston Scientific in the first quarter valued at approximately $32,000. Motco increased its stake in Boston Scientific by 136.3% in the third quarter. Motco now owns 645 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 372 shares during the last quarter. Venturi Wealth Management LLC increased its stake in Boston Scientific by 58.0% in the fourth quarter. Venturi Wealth Management LLC now owns 586 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 215 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in Boston Scientific in the second quarter valued at approximately $34,000. 89.07% of the stock is currently owned by hedge funds and other institutional investors.

Boston Scientific Stock Down 0.8 %

Shares of NYSE:BSX opened at $67.42 on Friday. The stock’s 50-day moving average price is $67.21 and its two-hundred day moving average price is $59.74. The company has a current ratio of 1.32, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $69.21. The firm has a market cap of $98.91 billion, a price-to-earnings ratio of 63.01, a PEG ratio of 2.39 and a beta of 0.78.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Boston Scientific had a return on equity of 15.99% and a net margin of 11.19%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same period last year, the company earned $0.45 EPS. On average, research analysts forecast that Boston Scientific Co. will post 2.25 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP John Bradley Sorenson sold 16,351 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the transaction, the executive vice president now directly owns 50,638 shares of the company’s stock, valued at approximately $3,509,213.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total value of $899,779.32. Following the sale, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 50,979 shares of company stock valued at $3,418,529. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Royal Bank of Canada increased their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Monday. Mizuho raised Boston Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the company from $65.00 to $80.00 in a report on Thursday, February 1st. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Wells Fargo & Company increased their price objective on Boston Scientific from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Finally, Truist Financial increased their price objective on Boston Scientific from $59.00 to $66.00 and gave the company a “buy” rating in a report on Friday, December 22nd. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.50.

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.