Gulf International Bank UK Ltd Has $9.64 Million Stock Holdings in Boston Scientific Co. (NYSE:BSX)

Gulf International Bank UK Ltd reduced its holdings in Boston Scientific Co. (NYSE:BSX) by 29.4% in the third quarter, HoldingsChannel reports. The firm owned 115,050 shares of the medical equipment provider’s stock after selling 47,932 shares during the period. Gulf International Bank UK Ltd’s holdings in Boston Scientific were worth $9,641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of BSX. FSM Wealth Advisors LLC raised its stake in Boston Scientific by 5.3% during the 3rd quarter. FSM Wealth Advisors LLC now owns 6,477 shares of the medical equipment provider’s stock worth $543,000 after buying an additional 327 shares during the period. Impax Asset Management Group plc increased its stake in Boston Scientific by 17.5% during the 3rd quarter. Impax Asset Management Group plc now owns 5,470,174 shares of the medical equipment provider’s stock valued at $457,138,000 after purchasing an additional 815,403 shares in the last quarter. Quintet Private Bank Europe S.A. raised its holdings in Boston Scientific by 26.3% during the third quarter. Quintet Private Bank Europe S.A. now owns 23,581 shares of the medical equipment provider’s stock worth $1,976,000 after buying an additional 4,914 shares during the last quarter. World Equity Group Inc. bought a new position in shares of Boston Scientific in the third quarter valued at $270,000. Finally, PDS Planning Inc increased its holdings in Boston Scientific by 2.7% during the 3rd quarter. PDS Planning Inc now owns 7,361 shares of the medical equipment provider’s stock worth $617,000 after purchasing an additional 192 shares in the last quarter. 89.07% of the stock is currently owned by institutional investors.

Boston Scientific Price Performance

Shares of BSX stock opened at $84.72 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.61 and a debt-to-equity ratio of 0.44. The stock has a market cap of $124.76 billion, a price-to-earnings ratio of 70.02, a PEG ratio of 2.46 and a beta of 0.79. The business’s fifty day moving average is $84.10 and its 200 day moving average is $78.55. Boston Scientific Co. has a twelve month low of $50.84 and a twelve month high of $88.79.

Boston Scientific (NYSE:BSX) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. Boston Scientific had a net margin of 11.26% and a return on equity of 17.41%. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. Boston Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. Research analysts expect that Boston Scientific Co. will post 2.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on BSX. Robert W. Baird increased their price target on Boston Scientific from $90.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Boston Scientific from $82.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. TD Cowen lifted their price target on Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, StockNews.com cut shares of Boston Scientific from a “buy” rating to a “hold” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $93.39.

Insider Transactions at Boston Scientific

In other Boston Scientific news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $85.00, for a total transaction of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares in the company, valued at approximately $13,639,695. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boston Scientific news, CEO Michael F. Mahoney sold 162,777 shares of Boston Scientific stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $84.63, for a total value of $13,775,817.51. Following the completion of the sale, the chief executive officer now owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Fitzgerald sold 132,527 shares of Boston Scientific stock in a transaction on Monday, October 7th. The stock was sold at an average price of $85.00, for a total value of $11,264,795.00. Following the completion of the sale, the executive vice president now directly owns 160,467 shares of the company’s stock, valued at $13,639,695. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,270 shares of company stock valued at $26,196,718. Insiders own 0.50% of the company’s stock.

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.