Vontobel Holding Ltd. Trims Stock Position in Boston Scientific Co. (NYSE:BSX)

by · The Cerbat Gem

Vontobel Holding Ltd. reduced its stake in Boston Scientific Co. (NYSE:BSX – Free Report) by 30.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,842,489 shares of the medical equipment provider’s stock after selling 2,527,469 shares during the period. Boston Scientific accounts for 1.6% of Vontobel Holding Ltd.’s portfolio, making the stock its 16th largest position. Vontobel Holding Ltd. owned approximately 0.40% of Boston Scientific worth $489,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of BSX. EP Wealth Advisors LLC lifted its position in Boston Scientific by 46.1% during the 4th quarter. EP Wealth Advisors LLC now owns 12,055 shares of the medical equipment provider’s stock valued at $697,000 after acquiring an additional 3,804 shares during the period. SageView Advisory Group LLC bought a new stake in Boston Scientific in the fourth quarter worth $588,000. ICA Group Wealth Management LLC bought a new stake in Boston Scientific in the fourth quarter worth $88,000. HighPoint Advisor Group LLC purchased a new stake in shares of Boston Scientific in the fourth quarter worth $469,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Boston Scientific during the fourth quarter valued at $139,000. 89.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Evercore ISI upped their target price on shares of Boston Scientific from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Barclays increased their price objective on Boston Scientific from $78.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Royal Bank of Canada boosted their target price on Boston Scientific from $85.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. StockNews.com downgraded shares of Boston Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Raymond James lifted their price target on shares of Boston Scientific from $91.00 to $94.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.55.

Read Our Latest Analysis on BSX

Boston Scientific Trading Up 0.3 %

Shares of BSX traded up $0.22 during trading hours on Wednesday, reaching $86.99. 913,325 shares of the company traded hands, compared to its average volume of 5,945,419. The firm has a market cap of $127.62 billion, a price-to-earnings ratio of 72.92, a PEG ratio of 2.87 and a beta of 0.80. Boston Scientific Co. has a 12-month low of $49.15 and a 12-month high of $88.09. The stock’s fifty day moving average price is $81.76 and its 200 day moving average price is $76.82. The company has a current ratio of 1.61, a quick ratio of 1.14 and a debt-to-equity ratio of 0.44.

Boston Scientific (NYSE:BSX – Get Free Report) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.02 billion. Boston Scientific had a net margin of 12.00% and a return on equity of 16.59%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. Sell-side analysts forecast that Boston Scientific Co. will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Boston Scientific

In related news, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $74.12, for a total transaction of $517,579.96. Following the completion of the sale, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Michael F. Mahoney sold 162,777 shares of the firm’s stock in a transaction on 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 owns 1,572,096 shares of the company’s stock, valued at $133,046,484.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Wendy Carruthers sold 6,983 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $74.12, for a total value of $517,579.96. Following the transaction, the executive vice president now directly owns 40,188 shares in the company, valued at $2,978,734.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,253 shares of company stock valued at $26,714,298. 0.50% of the stock is currently owned by corporate insiders.

Boston Scientific Company Profile

(Free Report)

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.

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