Boston Scientific Co. (NYSE:BSX) Stake Lessened by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. lowered its holdings in Boston Scientific Co. (NYSE:BSX) by 1.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 364,274 shares of the medical equipment provider’s stock after selling 5,098 shares during the period. Cullen Frost Bankers Inc.’s holdings in Boston Scientific were worth $32,537,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Boston Scientific by 4.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 4,119,399 shares of the medical equipment provider’s stock valued at $345,205,000 after purchasing an additional 173,034 shares in the last quarter. Mechanics Bank Trust Department purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $415,000. Highland Capital Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $4,887,000. Covenant Asset Management LLC purchased a new stake in shares of Boston Scientific in the fourth quarter valued at $3,405,000. Finally, Brookstone Capital Management lifted its holdings in shares of Boston Scientific by 23.7% in the fourth quarter. Brookstone Capital Management now owns 105,860 shares of the medical equipment provider’s stock valued at $9,455,000 after purchasing an additional 20,307 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Activity

In related news, CFO Daniel J. Brennan sold 15,087 shares of Boston Scientific stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $105.07, for a total transaction of $1,585,191.09. Following the sale, the chief financial officer now directly owns 241,451 shares of the company’s stock, valued at $25,369,256.57. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Arthur C. Butcher sold 17,313 shares of Boston Scientific stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $101.80, for a total value of $1,762,463.40. Following the sale, the executive vice president now directly owns 5,502 shares in the company, valued at approximately $560,103.60. This trade represents a 75.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,322 shares of company stock valued at $14,321,068. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BSX. Wells Fargo & Company increased their price objective on Boston Scientific from $100.00 to $118.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Argus set a $130.00 price objective on Boston Scientific in a report on Tuesday, February 18th. TD Cowen increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Citigroup increased their price objective on Boston Scientific from $107.00 to $122.00 and gave the stock a “buy” rating in a report on Thursday, February 6th. Finally, Truist Financial increased their price objective on Boston Scientific from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One investment analyst has rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $108.91.

Boston Scientific Trading Up 1.2 %

Shares of NYSE:BSX opened at $104.82 on Thursday. The company has a market cap of $154.68 billion, a P/E ratio of 83.85, a P/E/G ratio of 2.79 and a beta of 0.80. The stock’s 50-day moving average is $100.10 and its 200-day moving average is $90.89. Boston Scientific Co. has a 52-week low of $65.52 and a 52-week high of $107.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.02 and a current ratio of 1.08.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.05. Boston Scientific had a return on equity of 17.80% and a net margin of 11.07%. Equities research analysts predict that Boston Scientific Co. will post 2.85 earnings per share for the current year.

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.