Associated Banc Corp Lowers Stake in Boston Scientific Co. (NYSE:BSX)

Associated Banc Corp decreased its holdings in shares of Boston Scientific Co. (NYSE:BSX) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 422,714 shares of the medical equipment provider’s stock after selling 1,539 shares during the period. Boston Scientific makes up approximately 1.0% of Associated Banc Corp’s holdings, making the stock its 25th largest position. Associated Banc Corp’s holdings in Boston Scientific were worth $35,423,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of Boston Scientific during the third quarter worth $49,000. Boston Family Office LLC lifted its stake in shares of Boston Scientific by 3.0% in the 3rd quarter. Boston Family Office LLC now owns 8,694 shares of the medical equipment provider’s stock worth $729,000 after acquiring an additional 250 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Boston Scientific by 17.0% in the third quarter. Fisher Asset Management LLC now owns 4,771,935 shares of the medical equipment provider’s stock valued at $399,888,000 after acquiring an additional 694,585 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Boston Scientific by 8.7% during the third quarter. Daiwa Securities Group Inc. now owns 197,333 shares of the medical equipment provider’s stock worth $16,537,000 after purchasing an additional 15,866 shares in the last quarter. Finally, Hartford Funds Management Co LLC boosted its holdings in Boston Scientific by 3.1% in the 3rd quarter. Hartford Funds Management Co LLC now owns 6,123 shares of the medical equipment provider’s stock valued at $513,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Boston Scientific Stock Performance

Shares of BSX stock traded down $1.23 during trading hours on Monday, reaching $88.77. The stock had a trading volume of 296,779 shares, compared to its average volume of 6,052,631. Boston Scientific Co. has a twelve month low of $53.93 and a twelve month high of $91.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.48 and a quick ratio of 1.02. The firm has a market capitalization of $130.83 billion, a PE ratio of 74.38, a price-to-earnings-growth ratio of 2.65 and a beta of 0.79. The firm has a 50-day simple moving average of $85.99 and a 200-day simple moving average of $80.22.

Boston Scientific (NYSE:BSX) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.04 billion. Boston Scientific had a return on equity of 17.23% and a net margin of 11.26%. The company’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company earned $0.50 earnings per share. As a group, equities analysts forecast that Boston Scientific Co. will post 2.46 earnings per share for the current year.

Insider Activity at Boston Scientific

In related news, CEO Michael F. Mahoney sold 162,777 shares of the stock in a transaction dated Monday, October 7th. The stock was 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 directly owns 1,572,096 shares of the company’s stock, valued at approximately $133,046,484.48. This represents a 9.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the completion of the transaction, the executive vice president now owns 37,468 shares in the company, valued at $3,061,135.60. This represents a 15.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,147 shares of company stock valued at $26,643,598 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Stifel Nicolaus raised their price target on Boston Scientific from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Boston Scientific in a report on Monday, November 18th. Wells Fargo & Company raised their price objective on shares of Boston Scientific from $87.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Canaccord Genuity Group lifted their price objective on Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Bank of America boosted their price objective on shares of Boston Scientific from $90.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Boston Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $93.39.

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.