Synovus Financial Corp Has $394,000 Position in Boston Scientific Co. (NYSE:BSX)

Synovus Financial Corp increased its position in shares of Boston Scientific Co. (NYSE:BSX) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,718 shares of the medical equipment provider’s stock after purchasing an additional 1,486 shares during the period. Synovus Financial Corp’s holdings in Boston Scientific were worth $394,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Investors Research Corp lifted its holdings in Boston Scientific by 333.3% during the 2nd quarter. Investors Research Corp now owns 650 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 500 shares during the last quarter. Next Capital Management LLC acquired a new stake in Boston Scientific during the 2nd quarter worth approximately $29,000. NuWave Investment Management LLC increased its stake in Boston Scientific by 111.4% during the 3rd quarter. NuWave Investment Management LLC now owns 721 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 380 shares during the period. Westside Investment Management Inc. bought a new position in Boston Scientific during the 2nd quarter worth $31,000. Finally, NEXT Financial Group Inc increased its stake in Boston Scientific by 222.3% during the 2nd quarter. NEXT Financial Group Inc now owns 780 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 538 shares during the period. 91.64% of the stock is owned by institutional investors and hedge funds.

Shares of BSX traded down $0.21 during midday trading on Friday, hitting $40.51. The company’s stock had a trading volume of 3,199,353 shares, compared to its average volume of 7,209,796. Boston Scientific Co. has a one year low of $31.56 and a one year high of $43.84. The company’s fifty day simple moving average is $40.34 and its two-hundred day simple moving average is $40.64. The company has a quick ratio of 1.04, a current ratio of 1.31 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $56.54 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 2.27 and a beta of 0.76.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. Boston Scientific had a return on equity of 23.47% and a net margin of 10.49%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter last year, the company posted $0.35 EPS. The company’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, research analysts predict that Boston Scientific Co. will post 1.56 earnings per share for the current year.

In related news, SVP John Bradley Sorenson sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $42.79, for a total transaction of $256,740.00. Following the sale, the senior vice president now owns 42,385 shares of the company’s stock, valued at approximately $1,813,654.15. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Arthur C. Butcher sold 6,329 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $41.98, for a total value of $265,691.42. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,072 shares of company stock worth $4,188,092. Corporate insiders own 0.66% of the company’s stock.

BSX has been the topic of a number of recent research reports. BTIG Research set a $46.00 price objective on Boston Scientific and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Stephens set a $48.00 price objective on Boston Scientific and gave the stock a “buy” rating in a research note on Monday, September 30th. Guggenheim set a $53.00 price objective on Boston Scientific and gave the stock a “buy” rating in a research note on Friday, October 25th. Piper Jaffray Companies set a $50.00 price objective on Boston Scientific and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus set a $47.00 price objective on Boston Scientific and gave the stock a “buy” rating in a research note on Friday, September 6th. Two equities 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. The company currently has an average rating of “Buy” and a consensus price target of $47.07.

Boston Scientific Profile

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through three segments: MedSurg, Rhythm and Neuro, and Cardiovascular. The company offers interventional cardiology products, including drug-eluting coronary stent systems used in the treatment of coronary artery disease; percutaneous coronary interventions therapy products to treat atherosclerosis; intravascular catheter-directed ultrasound imaging catheters, fractional flow reserve devices, and systems for use in coronary arteries and heart chambers, as well as certain peripheral vessels; and structural heart therapy systems.

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Institutional Ownership by Quarter for Boston Scientific (NYSE:BSX)

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