Commerzbank Aktiengesellschaft FI Acquires 2,608 Shares of Boston Scientific Corporation (NYSE:BSX)

Commerzbank Aktiengesellschaft FI lifted its stake in Boston Scientific Corporation (NYSE:BSX) by 19.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,763 shares of the medical equipment provider’s stock after purchasing an additional 2,608 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Boston Scientific were worth $1,590,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC lifted its position in Boston Scientific by 1,625.0% in the 4th quarter. Colonial Trust Co SC now owns 276 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 260 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Boston Scientific in the 4th quarter valued at about $25,000. Sunbeam Capital Management LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $26,000. Ameriflex Group Inc. acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Boston Scientific during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 89.07% of the company’s stock.

Analyst Ratings Changes

BSX has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Boston Scientific from $115.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Leerink Partners assumed coverage on shares of Boston Scientific in a research report on Monday, June 16th. They set an “outperform” rating and a $118.00 price objective on the stock. Barclays increased their price objective on shares of Boston Scientific from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. BTIG Research reaffirmed a “buy” rating and issued a $124.00 price target on shares of Boston Scientific in a research report on Wednesday, April 23rd. Finally, Morgan Stanley lifted their target price on shares of Boston Scientific from $120.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, May 16th. Twenty-two equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $116.09.

Insider Activity

In related news, SVP Vance R. Brown sold 4,826 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $95.09, for a total transaction of $458,904.34. Following the transaction, the senior vice president owned 36,193 shares in the company, valued at $3,441,592.37. This represents a 11.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John Bradley Sorenson sold 4,572 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $104.54, for a total transaction of $477,956.88. Following the transaction, the executive vice president owned 18,705 shares in the company, valued at approximately $1,955,420.70. This trade represents a 19.64% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 461,970 shares of company stock valued at $47,755,193. Company insiders own 0.50% of the company’s stock.

Boston Scientific Stock Performance

Shares of NYSE:BSX opened at $104.62 on Friday. Boston Scientific Corporation has a 12 month low of $71.88 and a 12 month high of $107.53. The company has a current ratio of 1.45, a quick ratio of 0.88 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $103.40 and a 200-day moving average price of $100.90. The company has a market cap of $154.78 billion, a price-to-earnings ratio of 76.37, a price-to-earnings-growth ratio of 2.68 and a beta of 0.68.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, April 23rd. The medical equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $4.66 billion for the quarter, compared to analysts’ expectations of $4.57 billion. Boston Scientific had a net margin of 11.58% and a return on equity of 18.67%. The business’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 earnings per share. As a group, equities analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

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.