SouthState Corp Has $13.22 Million Position in Boston Scientific Co. (NYSE:BSX)

SouthState Corp increased its position in Boston Scientific Co. (NYSE:BSX) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 157,733 shares of the medical equipment provider’s stock after acquiring an additional 1,097 shares during the quarter. SouthState Corp’s holdings in Boston Scientific were worth $13,218,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingsview Wealth Management LLC increased its position in Boston Scientific by 4.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 5,570 shares of the medical equipment provider’s stock valued at $381,000 after purchasing an additional 219 shares during the period. Blair William & Co. IL increased its position in Boston Scientific by 9.3% during the 1st quarter. Blair William & Co. IL now owns 18,312 shares of the medical equipment provider’s stock valued at $1,254,000 after purchasing an additional 1,560 shares during the period. Acadian Asset Management LLC increased its position in Boston Scientific by 89.0% during the 1st quarter. Acadian Asset Management LLC now owns 93,258 shares of the medical equipment provider’s stock valued at $6,383,000 after purchasing an additional 43,916 shares during the period. Edgestream Partners L.P. acquired a new stake in Boston Scientific during the 1st quarter valued at approximately $366,000. Finally, Covestor Ltd increased its position in Boston Scientific by 99.2% during the 1st quarter. Covestor Ltd now owns 1,227 shares of the medical equipment provider’s stock valued at $84,000 after purchasing an additional 611 shares during the period. Institutional investors and hedge funds own 89.07% of the company’s stock.

Insider Activity

In other news, EVP Joseph Michael Fitzgerald sold 132,527 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 of the company’s stock, valued at $13,639,695. This trade represents a 45.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Wendy Carruthers sold 6,983 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.70, for a total value of $570,511.10. Following the sale, the executive vice president now directly owns 37,468 shares of the company’s stock, valued at approximately $3,061,135.60. This represents a 15.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 309,270 shares of company stock valued at $26,196,718 in the last ninety days. 0.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BSX shares. TD Cowen increased their target price on shares of Boston Scientific from $86.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Robert W. Baird raised their price objective on shares of Boston Scientific from $90.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Citigroup raised their price objective on shares of Boston Scientific from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Canaccord Genuity Group raised their price objective on shares of Boston Scientific from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Boston Scientific from $73.00 to $78.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.39.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $90.45 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $85.42 and its two-hundred day simple moving average is $79.72. Boston Scientific Co. has a 1-year low of $53.93 and a 1-year high of $91.08. The stock has a market cap of $133.31 billion, a PE ratio of 74.75, a price-to-earnings-growth ratio of 2.56 and a beta of 0.79.

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