Cullen Frost Bankers Inc. Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

Cullen Frost Bankers Inc. decreased its holdings in Boston Scientific Co. (NYSE:BSX) by 1.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 362,898 shares of the medical equipment provider’s stock after selling 5,971 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Boston Scientific were worth $20,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. grew its holdings in Boston Scientific by 25.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 42,606 shares of the medical equipment provider’s stock valued at $2,250,000 after purchasing an additional 8,766 shares during the period. Lindbrook Capital LLC grew its stake in shares of Boston Scientific by 6.1% during the 3rd quarter. Lindbrook Capital LLC now owns 3,687 shares of the medical equipment provider’s stock valued at $195,000 after acquiring an additional 211 shares during the period. Mackenzie Financial Corp increased its holdings in Boston Scientific by 15.8% in the 3rd quarter. Mackenzie Financial Corp now owns 429,320 shares of the medical equipment provider’s stock worth $22,127,000 after acquiring an additional 58,735 shares in the last quarter. Brighton Jones LLC increased its holdings in Boston Scientific by 5.4% in the 3rd quarter. Brighton Jones LLC now owns 3,999 shares of the medical equipment provider’s stock worth $211,000 after acquiring an additional 205 shares in the last quarter. Finally, NBT Bank N A NY bought a new stake in Boston Scientific during the 3rd quarter worth approximately $253,000. 89.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BSX. StockNews.com lowered shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Evercore ISI boosted their price objective on Boston Scientific from $72.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Argus increased their target price on Boston Scientific from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Barclays boosted their target price on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Wells Fargo & Company raised their target price on shares of Boston Scientific from $72.00 to $82.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.09.

Boston Scientific Trading Up 1.2 %

NYSE:BSX traded up $0.88 during midday trading on Tuesday, hitting $73.43. 4,151,495 shares of the company traded hands, compared to its average volume of 6,613,376. The firm has a market capitalization of $107.73 billion, a P/E ratio of 61.71, a P/E/G ratio of 2.51 and a beta of 0.77. The firm’s fifty day moving average is $68.68 and its 200-day moving average is $61.74. Boston Scientific Co. has a 12-month low of $48.35 and a 12-month high of $74.39. The company has a current ratio of 1.66, a quick ratio of 1.14 and a debt-to-equity ratio of 0.47.

Insider Buying and Selling at Boston Scientific

In other news, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $66.89, for a total value of $467,092.87. Following the completion of the sale, the executive vice president now owns 56,508 shares in the company, valued at approximately $3,779,820.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP John Bradley Sorenson sold 16,351 shares of Boston Scientific stock in a transaction on Monday, April 1st. The stock was sold at an average price of $69.30, for a total transaction of $1,133,124.30. Following the completion of the sale, the executive vice president now directly owns 50,638 shares in the company, valued at $3,509,213.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $66.89, for a total transaction of $467,092.87. Following the sale, the executive vice president now directly owns 56,508 shares of the company’s stock, valued at $3,779,820.12. The disclosure for this sale can be found here. Insiders have sold 78,384 shares of company stock worth $5,395,560 over the last quarter. Insiders own 0.50% of the company’s stock.

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.