SouthState Corp Has $8.91 Million Stock Position in Boston Scientific Co. (NYSE:BSX)

SouthState Corp increased its stake in shares of Boston Scientific Co. (NYSE:BSX) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,095 shares of the medical equipment provider’s stock after buying an additional 973 shares during the quarter. SouthState Corp’s holdings in Boston Scientific were worth $8,908,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Victory Capital Management Inc. grew its holdings in Boston Scientific by 5.6% during the third quarter. Victory Capital Management Inc. now owns 518,047 shares of the medical equipment provider’s stock valued at $27,353,000 after purchasing an additional 27,620 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Boston Scientific during the 4th quarter worth about $5,116,000. Glenmede Trust Co. NA increased its stake in shares of Boston Scientific by 12.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 10,442 shares of the medical equipment provider’s stock valued at $551,000 after purchasing an additional 1,123 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Boston Scientific by 2.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,868,991 shares of the medical equipment provider’s stock worth $98,683,000 after purchasing an additional 38,249 shares during the last quarter. Finally, HealthInvest Partners AB purchased a new stake in shares of Boston Scientific during the fourth quarter worth $3,746,000. Institutional investors own 89.07% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now directly owns 271,542 shares of the company’s stock, valued at $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Edward J. Ludwig sold 9,818 shares of Boston Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $73.29, for a total value of $719,561.22. Following the transaction, the director now owns 41,374 shares of the company’s stock, valued at $3,032,300.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares in the company, valued at $17,883,756.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,797 shares of company stock worth $4,138,090. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Boston Scientific from $74.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Raymond James lifted their price target on shares of Boston Scientific from $73.00 to $85.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. boosted their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research note on Saturday, March 16th. Finally, Royal Bank of Canada increased their target price on shares of Boston Scientific from $78.00 to $82.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.09.

Boston Scientific Stock Performance

Boston Scientific stock traded down $0.18 during trading hours on Thursday, hitting $72.03. The company had a trading volume of 6,487,185 shares, compared to its average volume of 6,639,147. Boston Scientific Co. has a one year low of $48.35 and a one year high of $74.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.32 and a quick ratio of 0.82. The firm has a market cap of $108.05 billion, a PE ratio of 60.68, a PEG ratio of 2.47 and a beta of 0.77. The firm has a 50-day moving average of $68.20 and a 200 day moving average of $61.03.

Boston Scientific (NYSE:BSX) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.51 by $0.04. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Boston Scientific had a return on equity of 16.63% and a net margin of 12.06%. During the same period in the previous year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that Boston Scientific Co. will post 2.32 earnings per share 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.