B. Metzler seel. Sohn & Co. Holding AG Purchases New Position in Boston Scientific Co. (NYSE:BSX)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Boston Scientific Co. (NYSE:BSX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 285,690 shares of the medical equipment provider’s stock, valued at approximately $23,940,000.

Other large investors have also recently modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in shares of Boston Scientific in the second quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new stake in shares of Boston Scientific in the third quarter valued at approximately $28,000. Andra AP fonden purchased a new stake in Boston Scientific during the second quarter worth $29,000. Lynx Investment Advisory purchased a new stake in Boston Scientific during the second quarter worth $30,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Boston Scientific during the third quarter worth $30,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $81.70, for a total transaction of $570,511.10. Following the completion of the sale, the executive vice president now directly owns 37,468 shares in the company, valued at approximately $3,061,135.60. The trade was a 15.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at approximately $13,639,695. This represents a 45.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,270 shares of company stock valued at $26,196,718. 0.50% of the stock is owned by corporate insiders.

Boston Scientific Price Performance

Shares of BSX opened at $90.45 on Tuesday. Boston Scientific Co. has a fifty-two week low of $53.93 and a fifty-two week high of $91.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.02 and a current ratio of 1.48. The company has a market capitalization of $133.31 billion, a P/E ratio of 74.75, a P/E/G ratio of 2.56 and a beta of 0.79. The business’s 50-day moving average is $85.42 and its two-hundred day moving average is $79.72.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. Boston Scientific’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.50 earnings per share. Research analysts predict that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

BSX has been the subject of a number of analyst reports. Canaccord Genuity Group upped their target price on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Wells Fargo & Company upped their target price on Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Royal Bank of Canada upped their target price on Boston Scientific from $95.00 to $98.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Truist Financial upped their target price on Boston Scientific from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Citigroup increased their price objective on Boston Scientific from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $93.39.

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.