Cullen Frost Bankers Inc. Purchases 203 Shares of Boston Scientific Corporation $BSX

Cullen Frost Bankers Inc. boosted its position in shares of Boston Scientific Corporation (NYSE:BSX) by 0.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 361,002 shares of the medical equipment provider’s stock after buying an additional 203 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Boston Scientific were worth $38,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in Boston Scientific by 15.4% during the 2nd quarter. GAMMA Investing LLC now owns 29,486 shares of the medical equipment provider’s stock valued at $3,167,000 after purchasing an additional 3,932 shares during the period. MRA Advisory Group purchased a new position in Boston Scientific during the 2nd quarter valued at $273,000. Bank of New Hampshire increased its position in Boston Scientific by 552.0% during the 2nd quarter. Bank of New Hampshire now owns 19,724 shares of the medical equipment provider’s stock valued at $2,119,000 after purchasing an additional 16,699 shares during the period. NS Partners Ltd increased its position in Boston Scientific by 1.6% during the 1st quarter. NS Partners Ltd now owns 368,189 shares of the medical equipment provider’s stock valued at $37,143,000 after purchasing an additional 5,704 shares during the period. Finally, New England Research & Management Inc. purchased a new position in Boston Scientific during the 2nd quarter valued at $1,133,000. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Stock Down 0.6%

NYSE:BSX opened at $99.88 on Wednesday. Boston Scientific Corporation has a twelve month low of $80.64 and a twelve month high of $109.50. The company has a market cap of $148.00 billion, a price-to-earnings ratio of 59.45, a price-to-earnings-growth ratio of 2.42 and a beta of 0.61. The stock has a fifty day simple moving average of $101.19 and a 200-day simple moving average of $101.83. The company has a current ratio of 1.37, a quick ratio of 0.82 and a debt-to-equity ratio of 0.49.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings results on Wednesday, July 23rd. The medical equipment provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $4.89 billion. Boston Scientific had a return on equity of 19.21% and a net margin of 13.55%.The business’s revenue for the quarter was up 22.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 earnings per share. Analysts anticipate that Boston Scientific Corporation will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Boston Scientific news, Director Yoshiaki Fujimori sold 2,901 shares of Boston Scientific stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $106.99, for a total value of $310,377.99. Following the transaction, the director owned 2,081 shares in the company, valued at $222,646.19. The trade was a 58.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward J. Ludwig sold 4,000 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $106.03, for a total value of $424,120.00. Following the sale, the director owned 18,479 shares in the company, valued at $1,959,328.37. The trade was a 17.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 174,214 shares of company stock worth $17,972,457 over the last ninety days. 0.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on BSX. Canaccord Genuity Group upped their target price on shares of Boston Scientific from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Robert W. Baird upped their target price on shares of Boston Scientific from $123.00 to $128.00 and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Barclays increased their price objective on shares of Boston Scientific from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Thursday, October 2nd. Oppenheimer raised shares of Boston Scientific from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $118.00 to $125.00 in a report on Monday, September 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Boston Scientific currently has a consensus rating of “Buy” and a consensus target price of $121.61.

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.